Shares of rel=”dofollow” href=”https://economictimes.indiatimes.com/eternal-ltd/stocks/companyid-57948.cms” data-ga-onclick=”Inarticle articleshow link click#Tech#href” target=”_blank”>Eternal, formerly known as ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” target=”_blank” href=”https://economictimes.indiatimes.com/zomato-ltd/stocks/companyid-57948.cms”>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 ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/ftse” target=”_blank”>FTSE and ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/msci” target=”_blank”>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…
