The proforma foreign ownership limit and upward movement of the adjustment factor due to foreign room will be implemented as part of the upcoming February 2021 Quarterly Index Review, the index aggregator said in a statement.
Bharti Airtel earlier this week had said that it had met all the necessary conditions for the implementation of the government’s approval for raising the foreign ownership limit in the company to 100 per cent from 49 per cent earlier.
MSCI’s move in February will result in an increase in weight of Bharti Airtel’s stock in the index aggregator’s indices. Brokerage firm Edelweiss Securities said that the increase in weight could lead to foreign inflows worth up to $700 million in the stock.
Today, shares of Bharti Airtel ended 0.2 per cent higher at Rs 579.30 on the National Stock Exchange.