India's LTIMindtree at 1-yr high on Nifty 50 index inclusion

Housing Development Finance

05/07/2023 05:20

** LTIMindtree  LTIM.NS  jumps 3.4% to 5,430 rupees, highest
since April 2022, before easing to a 0.19% gain
    ** LTIMindtree to replace Housing Development Finance Corp
(HDFC)  HDFC.NS  on India's benchmark Nifty 50 index  .NSEI ,
effective July 13
    ** LTIM net inflow should be around $125 mln to $130 mln,
Nuvama Alternative & Quantitative Research estimates
    ** Jindal Steel and Power  JNSP.NS  to replace HDFC in Nifty
100  .NIFTY100  and LTIM in Nifty Next 50  .NN50  indexes
    ** JNSP up 1.2% and, along with LTIM, set to rise for fourth
straight session
    ** HDFC down 1.9% after a 5-session rally
    ** LTIM up 20.4% YTD, while HDFC is up 7.4% and JNSP 6.5%

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))