The stock rose 6.21 per cent to hit a high of Rs 7,420, as the buyback price at Rs 10,000 crore was at 43.14 per cent premium to the stock's Monday's closing price of Rs 6,985.70.
Inclusion or increase in stock weightage in global indices like MSCI and FTSE leads to inflows from passive funds, which track that index. Exclusion from these indices usually leads to outflows. Thus, the announcements are widely tracked
India gains heft in MSCI EM index - The Hindu BusinessLine thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
The largecap threshold now stands at Rs 67,000 crore, up from Rs 49,700 crore in June 2023. The midcap cut-off has risen to Rs 22,000 crore, compared to Rs 17,400 crore previously.