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Time of India
26-05-2025
- Business
- Time of India
Eternal shares slip 4% after FTSE, MSCI cut stock weight; $840 million in passive outflows likely
Shares of Eternal , formerly known as Zomato , slipped 4% to an intraday low of Rs 227.95 on the BSE on Monday amid expectations of passive outflows worth $840 million following weightage cuts by global index providers FTSE and MSCI . The revisions come after a reduction in the Foreign Ownership Limit (FOL) for the stock. In the FTSE All World Index, Eternal's investability weighting has been slashed from 82.74% to 49.5%. The FOL determines the extent to which foreign investors can hold a company's shares. A reduction in this limit forces global indices to adjust the stock's weight to reflect its lower availability to foreign investors. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Why Chattarpur Flats Are Ideal for You A D Infra Learn More Undo FTSE noted that while Eternal will remain part of the index, the total number of shares in issue—9,064,966,438—remains unchanged. The changes will take effect at the start of trading on Wednesday, May 28. Eternal is currently included in the FTSE MPF All World Index, FTSE Global Large Cap Index, and FTSE Emerging Index. It is also part of the MSCI India Index . Live Events "Unlike headroom-related reductions (which are implemented in a phased manner), a direct FOL cut may lead to a full investability weight reduction in a single step during this interim event. We expect outflows of $380 million from this is a downward revision," a note by IIFL Alt Desk said. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Additionally, MSCI has announced a Foreign Inclusion Factor (FIF) adjustment for Eternal as part of its May review, which could trigger another $460 million in passive outflows. These adjustments will be effective from May 30, 2025. Eternal shares have come under pressure after nearly 99% of shareholders voted in favour of capping foreign ownership. According to Jefferies, the stock could see total outflows of up to $1.3 billion due to these changes. Also Read: High conviction picks! ICICI Bank, HAL among 10 large-cap stock ideas from PL Capital Eternal share price target According to Trendlyne, the average target price for Eternal stands at Rs 272, implying an upside of nearly 14% from current levels. Among the 29 analysts covering the stock, the consensus rating is 'Buy'. Eternal shares performance Eternal shares closed at Rs 237.4 on Friday, up 3.6% on the BSE, while the Sensex rose 0.95%. The stock is down 14% year-to-date but has surged 275% over the past two years. Its current market capitalisation stands at Rs 2,29,147 crore. Also Read: Stocks in news: Firstcry, Nazara, Swiggy, JSW Steel, NTPC ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
26-05-2025
- Business
- Time of India
eternal: Eternal shares in focus after FTSE, MSCI cut stock weight; $840 million in passive outflows likely
ADVERTISEMENT Eternal share price target ADVERTISEMENT Eternal shares performance ADVERTISEMENT Shares of Eternal , formerly known as Zomato , will be in focus on Monday amid expectations of passive outflows worth $840 million following weightage cuts by global index providers FTSE and MSCI The revisions come after a reduction in the Foreign Ownership Limit (FOL) for the stock. In the FTSE All World Index, Eternal's investability weighting has been slashed from 82.74% to 49.5%.The FOL determines the extent to which foreign investors can hold a company's shares. A reduction in this limit forces global indices to adjust the stock's weight to reflect its lower availability to foreign noted that while Eternal will remain part of the index, the total number of shares in issue—9,064,966,438—remains unchanged. The changes will take effect at the start of trading on Wednesday, May is currently included in the FTSE MPF All World Index, FTSE Global Large Cap Index, and FTSE Emerging Index. It is also part of the MSCI India Index "Unlike headroom-related reductions (which are implemented in a phased manner), a direct FOL cut may lead to a full investability weight reduction in a single step during this interim event. We expect outflows of $380 million from this is a downward revision," a note by IIFL Alt Desk MSCI has announced a Foreign Inclusion Factor (FIF) adjustment for Eternal as part of its May review, which could trigger another $460 million in passive outflows. These adjustments will be effective from May 30, 2025. Eternal shares have come under pressure after nearly 99% of shareholders voted in favour of capping foreign ownership. According to Jefferies, the stock could see total outflows of up to $1.3 billion due to these to Trendlyne, the average target price for Eternal stands at Rs 272, implying an upside of nearly 14% from current levels. Among the 29 analysts covering the stock, the consensus rating is 'Buy'. Eternal shares closed at Rs 237.4 on Friday, up 3.6% on the BSE, while the Sensex rose 0.95%. The stock is down 14% year-to-date but has surged 275% over the past two years. Its current market capitalisation stands at Rs 2,29,147 crore.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
26-05-2025
- Business
- Time of India
Eternal shares in focus after FTSE, MSCI cut stock weight; $840 million in passive outflows likely
Eternal shares: The changes follow a decrease in the Foreign Ownership Limit (FOL) for the stock. As a result, Eternal's investability weighting in the FTSE All World Index has been cut from 82.74% to 49.5%. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Eternal share price target Eternal shares performance Shares of Eternal , formerly known as Zomato , will be in focus on Monday amid expectations of passive outflows worth $840 million following weightage cuts by global index providers FTSE and MSCI The revisions come after a reduction in the Foreign Ownership Limit (FOL) for the stock. In the FTSE All World Index, Eternal's investability weighting has been slashed from 82.74% to 49.5%.The FOL determines the extent to which foreign investors can hold a company's shares. A reduction in this limit forces global indices to adjust the stock's weight to reflect its lower availability to foreign noted that while Eternal will remain part of the index, the total number of shares in issue—9,064,966,438—remains unchanged. The changes will take effect at the start of trading on Wednesday, May is currently included in the FTSE MPF All World Index, FTSE Global Large Cap Index, and FTSE Emerging Index. It is also part of the MSCI India Index "Unlike headroom-related reductions (which are implemented in a phased manner), a direct FOL cut may lead to a full investability weight reduction in a single step during this interim event. We expect outflows of $380 million from this is a downward revision," a note by IIFL Alt Desk MSCI has announced a Foreign Inclusion Factor (FIF) adjustment for Eternal as part of its May review, which could trigger another $460 million in passive outflows. These adjustments will be effective from May 30, 2025. Eternal shares have come under pressure after nearly 99% of shareholders voted in favour of capping foreign ownership. According to Jefferies, the stock could see total outflows of up to $1.3 billion due to these to Trendlyne, the average target price for Eternal stands at Rs 272, implying an upside of nearly 14% from current levels. Among the 29 analysts covering the stock, the consensus rating is 'Buy'.Eternal shares closed at Rs 237.4 on Friday, up 3.6% on the BSE, while the Sensex rose 0.95%. The stock is down 14% year-to-date but has surged 275% over the past two years. Its current market capitalisation stands at Rs 2,29,147 crore.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Economic Times
26-05-2025
- Business
- Economic Times
Eternal shares in focus after FTSE, MSCI cut stock weight; $840 million in passive outflows likely
Shares of Eternal, formerly known as Zomato, will be in focus on Monday amid expectations of passive outflows worth $840 million following weightage cuts by global index providers FTSE and MSCI. ADVERTISEMENT The revisions come after a reduction in the Foreign Ownership Limit (FOL) for the stock. In the FTSE All World Index, Eternal's investability weighting has been slashed from 82.74% to 49.5%. The FOL determines the extent to which foreign investors can hold a company's shares. A reduction in this limit forces global indices to adjust the stock's weight to reflect its lower availability to foreign investors. FTSE noted that while Eternal will remain part of the index, the total number of shares in issue—9,064,966,438—remains unchanged. The changes will take effect at the start of trading on Wednesday, May 28. Eternal is currently included in the FTSE MPF All World Index, FTSE Global Large Cap Index, and FTSE Emerging Index. It is also part of the MSCI India Index. "Unlike headroom-related reductions (which are implemented in a phased manner), a direct FOL cut may lead to a full investability weight reduction in a single step during this interim event. We expect outflows of $380 million from this is a downward revision," a note by IIFL Alt Desk said. ADVERTISEMENT Additionally, MSCI has announced a Foreign Inclusion Factor (FIF) adjustment for Eternal as part of its May review, which could trigger another $460 million in passive outflows. These adjustments will be effective from May 30, 2025. Eternal shares have come under pressure after nearly 99% of shareholders voted in favour of capping foreign ownership. According to Jefferies, the stock could see total outflows of up to $1.3 billion due to these changes. ADVERTISEMENT Also Read: High conviction picks! ICICI Bank, HAL among 10 large-cap stock ideas from PL Capital ADVERTISEMENT According to Trendlyne, the average target price for Eternal stands at Rs 272, implying an upside of nearly 14% from current levels. Among the 29 analysts covering the stock, the consensus rating is 'Buy'. Eternal shares closed at Rs 237.4 on Friday, up 3.6% on the BSE, while the Sensex rose 0.95%. The stock is down 14% year-to-date but has surged 275% over the past two years. Its current market capitalisation stands at Rs 2,29,147 crore. ADVERTISEMENT Also Read: Stocks in news: Firstcry, Nazara, Swiggy, JSW Steel, NTPC (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Economic Times
24-05-2025
- Business
- Economic Times
Eternal may see outflows worth $840 million following FTSE, MSCI's weight cuts
Food delivery company Eternal, formerly known as Zomato, is staring at a passive outflow of $840 million as global index majors FTSE and MSCI plan to slash the stock's weightage in their portfolio. ADVERTISEMENT This follows a reduction in the Foreign Ownership Limit (FOL). In FTSE All World Index, the investability weighting from 82.74% to 49.5%.This limit caps how much of a company's shares can be held by foreign investors. When this limit drops, index providers like FTSE and MSCI cut the stock's weight in their indices to reflect the reduced availability for global investors. Eternal will remain in the index with unchanged shares in the issue total of 9,064,966, 438, a release issued by FTSE said. The change will be effective from the start of trading on Wednesday, May Eternal shares are currently part of FTSE MPF All World Index, FTSE Global Large Cap Index and FTSE Emerging Index. ADVERTISEMENT Eternal is also part of the MSCI India index."Unlike headroom-related reductions (which are implemented in a phased manner), a direct FOL cut may lead to a full investability weight reduction in a single step during this interim event. We expect outflows of $380 million from this is downward revision," a note by IIFL Alt Desk said. ADVERTISEMENT MSCI has also announced FIF change along with the May review in Eternal which could see an outflow of $460 million, IIFL Alt Desk said. The adjustments will become effective from May 30, of Eternal have been under pressure after an overwhelming majority of 99% shareholder votes came in favour of the proposal to impose a cap on foreign ownership. According to Jefferies, the stock can see outflows of $1.3 billion. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
