“Importantly, the Index Maintenance -Committee – Equity (IMSC) of NSE Indices has decided to make the changes in the eligibility criteria of NIFTY equity indices. NSE has also decided to make changes to the eligibility criteria for index rebalancing. Yes Bank, Hindustan Petroleum Corporation, Aurobindo Pharma, Jindal Steel, IGL, and Apollo Hospitals will exit the index. Zomato is expected to see the largest fund inflows, among internet stocks, worth Rs 16.9 million. Other stocks to be added to the index include Mindtree, SRF, and Indian Oil. Only those stocks that are part of the Nifty Next 50 index can enter the benchmark Nifty 50. NSE has decided to include Zomato, Paytm, and Nykaa along with three other stocks to the Nifty Next 50. Internet stocks that have recently made debuts on the stock exchanges are set to enter the Nifty Next 50 index. Share Market LIVE: Sensex up 250 points, Nifty slips below 17800 HDFC Bank, Asian Paints stocks jump Internet stocks enter Nifty Next 50 Indian Oil shares are flat so far this year, outperforming the benchmarks. Indian Oil Corporation will exit the index, resulting in $91 million outflows. Edelweiss expects $143 million worth of inflows towards Apollo Hospitals owing to the index changes. However, the stock has rallied close to 50% in the last one year. Nifty 50 changesĪpollo Hospitals’ share price is down 8.9% so far this year amid the bearish momentum, trading at Rs 4,546 per share. Changes announced yesterday to the various indices will come into effect from March 31, 2022. NSE has also made changes to the Bank Nifty index, Nifty Next 50, and Nifty 500 along with the midcap and smallcap indices.
Inclusion in Nifty 50 is expected to result in inflows of $143 million towards Apollo Hospitals, according to analysts at Edelweiss Alternative Research. The move is in line with expectations on Dalal Street. NSE Nifty 50 semi-annual index reconstitution will see Apollo Hospitals Enterprise enter the benchmark index, replacing PSU stock Indian Oil Corporation.
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