Indian Oil may exit from domestic equity benchmark index Nifty 50 and online food delivery platform Zomato may enter Nifty Next 50. According to analysts at Edelweiss Alternative Research, this change may happen in the index, which is updated every six months. Government oil company Indian Oil can be replaced by Apollo Hospitals or Naukri.com’s parent company Info Edge.
Apart from this, analysts believe that recently listed on the domestic exchange Zomato may enter Nifty Next 50. Along with Zomato, IT sector giant Mindtree can also enter Nifty Next 50. This change can happen by the end of March 2022 next year and will be based on stock movement till January 31, 2022.
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Apollo Hospitals more likely
Edelweiss believes that Apollo Hospitals is more likely to be included in the Nifty 50 than Info Edge. Based on the current free float market cap of four months and projected market cap for the next seven weeks, Info Edge lags behind Apollo Hospitals in this race. At present, both Apollo Hospitals and Info Edge are 1.5 times the free-float market cap of IndianOil.
According to Edelweiss Alternative Research, the chances of Indian Oil exiting Nifty 50 are more visible, but if its prices increase by 12-15 percent in the next three weeks and it remains till the end of January, then it is likely to be out of Nifty 50. Can be saved.
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Zomato and Mindtree may join Nifty Next 50
Apart from Nifty 50, Nifty Next 50 may also change and online food delivery platforms Zomato and Mindtree may join in. According to Edelweiss Research, Zomato will have 1.7 per cent weightage and Mindtree 2.1 per cent weightage on inclusion in Nifty Next 50. Apart from this, Nifty can move from Next 50 to Apollo Hospitals or Info Edge Nifty 50 and apart from this one in Yes Bank, IGL, Jindal Steel and Hindustan Petroleum can get out of Nifty Next 50.
(Article: Kshitij Bhargava)
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