loading
loading
MSCI will delete Swiggy from global indices, with the change expected to take effect on September 7. The deletion could result in passive outflows of about $330 million, equivalent to nearly 120 million shares, or around five to six days of average daily volume, according to Nuvama Alternative and Quantitative Research. FTSE announced a change in Swiggy's 'investability weight' following the reduction in its foreign ownership limit. The change will be effective from the start of trading on September 7. Nuvama estimates passive outflows linked to the MSCI and FTSE changes could exceed $350 million in the initial adjustments. Swiggy was included in the 'Red Flag' list maintained by depositories NSDL and CDSL. According to NSDL, a Red Flag is activated when the foreign investment is within 3% or less than 3% of the aggregate NRI or Foreign Portfolio Investor limits or the sectoral cap. Read more: BSE shares slip 3% after exchange flags CAS-driven volume decline The foreign investment headroom in the stock has fallen below 3.75%, said Nuvama Alternative's head Abhilash Pagaria. Swiggy shares fell 2.7% to ₹267.50 on Wednesday. Recently, Swiggy decided to cap aggregate foreign ownership at 49.5% to enable it to qualify as an Indian-owned and controlled company (IOCC) under foreign investment rules. Shareholders approved the proposal in August. Nuvama estimates that the FTSE changes could eventually result in passive outflows of about $110 million. It expects around $25 million of outflows, equivalent to nearly 11 million shares or about half a day's average daily volume, in the first tranche. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
document fetched 2026-09-03 03:00