IndusInd Bank's stock price down ~ 1% today

12 Apr 2023 , 11:49 AM

 Shares of IndusInd Bank have fallen 1.34% in morning trade, making it the biggest loser in the Nifty index. This happened after the bank’s latest shareholding pattern suggested that it might narrowly miss out on being included in the MSCI Standard index.

IndusInd Bank has revealed its shareholding pattern for the quarter ending March 2023. The data indicates that the bank has a foreign portfolio investment (FPI) room of approximately 14.19%.

To be eligible for inclusion in the MSCI Standard index, a minimum FPI room of 15% is required. The FPI room refers to the portion of shares available to foreign investors in relation to the maximum permissible limit.

When stocks are excluded from MSCI indices, it can lead to significant outflows because foreign investors and passive funds use these indices as a basis for allocating funds. Conversely, companies that are added to the MSCI indices typically experience increased inflows.

At around 11.39 AM, IndusInd Bank is trading at Rs 1,064.25 apiece, down by 0.93% against the previous close of Rs 1,074.20 on NSE. The counter touched an intraday low of Rs 1,057.55 so far.

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