The brokerage firm said that six companies can be included in the Nifty Next 50 re-balancing. At the same time, Apollo Hospitals is likely to be included in the Nifty 50 index.
6 stocks including Zomato and IRCTC are likely to be included in the Nifty Next 50 index in the next re-balancing round of the NSE index. Brokerage firm IIFL Securities has given this information in a note. The brokerage firm said that six companies can be included in this index in Nifty Next 50 re-balancing. At the same time, Apollo Hospitals is expected to be included in the Nifty 50 index. NSE’s semi-annual index review will be announced at the end of this month and the changes made in individual NSE indices will be effective from March 31. The NSE index is re-balanced twice every year.
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These companies can be included in Nifty Next 50
- Zomato Internet company Zomato is expected to enter Nifty Next 50 in the coming times. The stock has lost nearly 30 per cent so far this year. However, it is still trading above its IPO price.
- IRCTC PSU stock IRCTC can also be included in the index. This year this stock has gained about 2% and today it closed at a price of Rs 860.
- Mindtree Shares of IT stock Mindtree have declined this year along with other technology stocks. Its shares have fallen by about 15 percent so far this year and it has closed today at Rs 4070 per share.
- Indian Oil Corporation Indian Oil shares have gained about 10% this year. IIFL believes that if Nifty is out of 50, this stock can enter Nifty Next 50. The share of IOC closed at Rs 124 per share on Wednesday.
- SRF – This stock is trading at Rs 2,453 up 1.7% this year.
- Tata Power Tata Power, a Tata group company, has seen a strong start in 2022. The company’s shares are trading at a price of Rs 250 per share, up by more than 12% so far.
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These companies may be out of Nifty Next 50
- Yes Bank Private sector lender Yes Bank is among the stocks that can be exited from Nifty Next 50 this month. This stock has declined by 3.5 per cent this year and is trading at Rs 13 per share.
- IGL The share price of Indraprastha Gas Limited (IGL) has declined by 15% so far this year and is trading at Rs 407 per share.
- Jindal steelThis stock has gained 7% this year and is currently trading at Rs 417 per share. Jindal may be dropped from the index.
- Aurobindo Pharmaceuticals: This pharma stock has performed well in recent times but is still trading at Rs 673, down 8% so far this year.
- HPCL: HPCL may also be excluded from NSE intakes in the next re-balance round. In 2022, this stock is trading at Rs 290 per share, down 2% so far.
Changes in Nifty Fundamentals
It is believed that Apollo Hospitals can enter Nifty 50 and Indian Oil can be shown the way out. This move is expected to affect the fundamentals of Nifty 50.
(Article: Kshitij Bhargava)
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