Comments
Shares of Chennai-headquartered Apollo Hospitals Enterprise Ltd gained on Friday after the National Stock Exchange (NSE) announced the company’s inclusion in the benchmark Nifty 50 index, effective from March 31.
At 1:26 pm, shares of the healthcare majorwas trading at ₹4,590.00 on the BSE, up ₹208.05 or 4.75 per cent. The stock opened at ₹4,535.00 as against the previous close of ₹4,381.95. It recorded an intra-day high of ₹4,745.00 and a low of ₹4,465.00.
On the NSE, it was trading at ₹4,590.15, up ₹208.20 or 4.75 per cent. It recorded an intra-day high of ₹4,747.60
Apollo Hospitals has been included in the Nifty 50 index replacing Indian Oil Corporation. This change will be effective from March 31 (close of March 30, 2022), the Exchange has announced.
This replacement will also be applicable to NIFTY50 Equal Weight Index.
Inflows galore
Edelweiss Securities expects Apollo Hospital’s inclusion in the index to result in an inflow of $143 billion, while Indian Oil will be removed and it will see an outflow of $91 million, it said.
The rejig comes amid a period of weakness for the stock. The stock has been underperforming over the past three months, down from its 52-week high of ₹5,930.70.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.