“Bearish on Swiggy due to its deletion from MSCI global indices, effective September 7, following a reduction in its foreign ownership limit to 49.5%. This change is expected to trigger passive outflows of approximately $330 million, equivalent to about 120 million shares or five to six days of average daily volume. Combined MSCI and FTSE changes could exceed $350 million in initial adjustments, with FTSE changes alone potentially causing $110 million in outflows.”

Nuvama Analysis’s track record: 4 graded calls · 95% CI 15–85%