** Shares of Zomato-parent Eternal ETEA.NS fall 1.2% to 318 rupees

** MSCI to reduce ETEA's weight in the flagship MSCI Global Standard index, leading to outflows of up to $607 million, as per IIFL Alternate Desk

** Co's weight was expected to be lowered amid its proposal to convert to Indian owned and controlled company (IOCC), capping foreign ownership to 49.5%

** MSCI has included rival Swiggy SWIG.NS to the index

** Co expected to get inflows worth up to $289 million - IIFL Alternate Desk data

** Thirty-one analysts covering the stock have a "buy" rating on average; median PT is 320.50 rupees - data compiled by LSEG

** Stock up ~15% YTD

(Reporting by Urvi Dugar)

((UrviManoj.Dugar@thomsonreuters.com;))