Stocks

Apollo Hospitals or Info Edge may enter Nifty 50: Edelweiss

Our Bureau | | Updated on: Dec 06, 2021
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IOC likely to exit; Zomato to enter major indices

Apollo Hospitals or InfoEdge (Naukri) will enter the Nifty50 index, said Edelweiss Alternative Research, based on its analysis. However, according to its study, Indian Oil Corporation will be out of the Nifty50, which will be announced in February based on January 31, 2022, price.

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“We at Edelweiss Alternative Research have done a pre-emptive analysis of the Semi-Annual Index Rejig of Nifty Indices which will officially be announced in the second half of February 2022,” it said. The rebalance will take effect from March 2022.

According to NSE, the Nifty 50 is a diversified 50 stock index accounting for 13 sectors of the economy. It is used for a variety of purposes such as benchmarking fund portfolios, index-based derivatives and index funds.

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“From the first ETF launched in India in December 2001 that was benchmarked to it, the NIFTY 50 today (as of 2019) has 21 ETFs, of which 16 are listed in India and 5 in international markets with more than $9 billion of Asset,” said NSE on its web site.

Similarly, Bank of Baroda will replace RBL Bank in Nifty Bank index and Persistent Systems will replace L&T Technology Services in Nifty IT Index, the domestic brokerage house said.

Likely exclusions, according to Edelweiss

Zomato, Mindtree and IOC will be included in Nifty Next 50 while there is a possibility of SRF, IRCTC, Tata Power, Mphasis and Godrej Properties entering the index based on the price movement till the cut-off date (January 31, 2022) from the current levels, it said.

According to Edelweiss, shares of YES Bank, Indraprastha Gas, Jindal Steel & Power and HPCL have bright chances to be excluded from the index while Biocon, Aurobindo Pharma and Lupin will also be excluded based on the price movement from now on. As Apollo Hospitals or Nauki may migrate to Nifty, one of it will also be excluded from Nifty Next 50.

Zomato will also enter Nifty 500 and Nifty 100 index, the domestic brokerage study said. Apart from Zomato, recently listed stocks such as Clean Science & Technology, Nuvoco Vistas Corporation, GR Infraprojects, Aptus, Aditya Birla Sun Life AMC and Devyani will enter the Nifty 500 index, it said.

Published on December 06, 2021

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