Alert - Nestle/Zee -
As per the NSE press release dated 20-Aug-19 (yesterday), there is a revision in eligibility criteria for inclusion of stocks in NIFTY indices. Post this revision, Nestle will qualify for inclusion in the Nifty Index.
our calculations suggest a 0.91% wt for Nestle in Nifty, implying a BUYing of 6.3 lakh shares, translating into 10 days of volumes..
also, a likely Zee exclusion (current wt 0.47%) implies SELLing worth 1.11cr shr (~1 day of volume)
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