Bharti Airtel to be part of February quarterly index review: MSCI

The weightage of telecom operator Bharti Airtel stock in the MSCI Global Standard Indexes will be raised in the February 2021 quarterly review, said the MSCI.

National Securities Depository Limited (NSDL), on January 12, had updated the foreign investment limit for Bharti Airtel from 49 percent to 100 percent.

Following which, MSCI on January 14 said the proforma foreign ownership limit (FOL) and upward movement of the adjustment factor due to foreign room would be implemented as part of the upcoming February 2021 Quarterly Index Review (QIR).

“The proforma Foreign Inclusion factor (FIF) will be announced along with the scheduled February 2021 QIR announcement, on February 9, 2021. All changes will be implemented as of the close of February 26, 2021 (effective March 1, 2021),” the index solutions provider added in its statement.

MSCI reviews foreign ownership limit (FOL) and foreign room until the price cutoff date on a quarterly basis.

Bharti Airtel, in January 2020, had received approvals from the Department of Telecommunications to increase the foreign investment limit to 100 percent of its paid-up equity.

The company, on January 12, said it had received approvals for its relevant downstream investments and it was initiating the process to revise its foreign investment limit, as notified to its depositories, to 100 percent with immediate effect. Money Control