Mumbai, May 23
Trent Limited and Bharat Electronics Limited (BEL) are set to join the 30-stock benchmark Sensex, replacing IndusInd Bank Limited and Nestle India Limited, as part of the latest index reshuffle announced by the Bombay Stock Exchange (BSE).
The changes will take effect from June 23. This reshuffle is part of the regular rebalancing of the 30-stock benchmark index, which aims to reflect the changing dynamics of the Indian stock market.
As part of this change, significant buying and selling activities are expected around the implementation date.
Tata Group’s apparel retail company Trent is expected to receive strong capital inflows of about $278 million, or nearly Rs 2,400 crore.
This is 2.5 times its average daily trading volume, as per estimates by IIFL Alternate Desk.
Similarly, Bharat Electronics (BEL), a key player in the defence sector, may see inflows worth $275 million, which is 3.1 times its usual daily trade.
BEL shares have already risen nearly 37 per cent in the last six months.
On the other hand, Nestle India may witness outflows worth $210 million or Rs 1,800 crore. This amount is 7.7 times its average daily volume.
The stock has gained only about 5 per cent over the last six months. IndusInd Bank, which is under scrutiny over suspected fraud and governance concerns, may see an outflow of $135 million, or Rs 1,155 crore.