Nifty 50 September Rejig: Defence PSU stock Bharat Electronics Ltd (BEL) and Tata Group company Trent will enter the NSE’s benchmark Nifty 50 index in its September reshuffle, according to the estimates by Nuvama Alternative & Quantitative Research. On the contrary, LTIMindtree and Divi’s Laboratories are likely to be excluded from the Nifty 50 index.
The Index Maintenance Sub-Committee (Equity) of NSE Indices has decided to change various Nifty equity indices as part of the semi-annual review of broad market indices. Only stocks available for trading in NSE’s Futures & Options (F&0) segment are eligible for inclusion in the Nifty 50 index.
These changes would lead to an inflow worth $500 million in Trent and $440 million in BEL. LTIMindtree and Divi’s Laboratories are estimated to witness an outflow of $210 million and $260 million, respectively.
More than 70 stocks currently qualify for F&O inclusions based on quantitative criteria but have not made the cut as SEBI has yet to approve them. Nuvama noted that SEBI has not approved any new inclusions in a couple of years.
According to Nuvama’s estimates, Canara Bank may replace Bandhan Bank in the Nifty Bank index in the upcoming reshuffle. This anticipated change reflects adjustments based on market performance and index requirements.
The potential inclusions in the Nifty Next 50 include JSW Energy, NHPC, Union Bank of India, Hindustan Zinc and Indian Overseas Bank, while the Colgate Palmolive India, SRF, Marico, SBI Cards & Payment Services and Berger Paints are likely to be dropped out.
The inclusion of Divi’s Labs, LTIMindtree and BPCL in the Nifty Next 50 is subjective to the final decisions made during the Nifty 50 rejig.
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