Nifty50 reshuffle: Apollo Hospitals, Info Edge among top 5 contenders to make the cut—check major change in index since March'19
The semi-annual changes in the broader Nifty50 index, based on average free float (FF) market capitalisation for the period August 2021 to January2022, will be announced in February
The semi-annual changes in the broader Nifty50 index, based on average free float (FF) market capitalisation for the period August 2021 to January2022, will be announced in February. The changes announced next month will come into effect on March 31, 2022.
Five stocks are top contenders to make a cut in the Nifty index. These are Avenue Supermarts, Apollo Hospitals, Adani Transmission, Adani Green and Info Edge (India).
See Zee Business Live TV Streaming Below:
While five stocks, largely from new-age sectors (digital, omni-channel, green energy), qualify on free float market cap criteria, Apollo Hospitals (omni-channel play) edges out in terms of being in the F&O list and is the most likely candidate to replace IOCL.
Out of the above five stocks, only Apollo Hospitals and Info Edge qualify as they are part of the F&O list.
As per ICICI Securities, NIFTY50 index valuation is likely to rise with new-age growth stocks vying for entry in the index. "Apollo Hospitals (omni-channel play) to make the cut and replace IOCL," it said.
This change will result in buying worth Rs 9.45 bn (2x ADTO) for Apollo Hospitals and selling worth Rs 6.83 bn (6x ADTO) for IOCL from NIFTY50 ETF funds.
The NSE data shows that as many as 6 major changes were made in the index between March 2019 and March 2021. As per the data.
Britannia Industries replaced HPCL in March 2019, while Nestle India made entry to the index in September 2019. The FMCG giant replaced Indiabulls Housing Finance. Similarly, Yes Bank was replaced by Shree Cements in March 2020, HDFC Life replaced Vedanta in July 2020, In September 2020 Bharti Infratel and Zee Entertainment was excluded from the index. Divis Laboratories, SBI LIfe Insurance were included in the Nifty50 in September 2020. In March 2021, GAIL made way for Tata Group stock, Tata Consumer, showed NSE historical data.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How soon will monthly SIP of Rs 6,000, Rs 8,000, and Rs 10,000 reach Rs 5 crore corpus target?
SBI Guaranteed Return Scheme: Know how much maturity amount you will get on Rs 2 lakh, 2.5 lakh, 3 lakh, 3.5 lakh and Rs 4 lakh investments under Amrit Vrishti FD scheme
SBI Senior Citizen FD Rate: Here's what State Bank of India giving on 1-year, 3-year, 5-year fixed deposits currently
SBI Senior Citizen Latest FD Rates: What senior citizens can get on Rs 7 lakh, Rs 14 lakh, and Rs 21 lakh investments in Amrit Vrishti, 1-, 3-, and 5-year fixed deposits
11:04 AM IST