There has been a buzz in the shares after the announcement of changes in different indices of Nifty in the National Stock Exchange (NSE). Although these changes will come into effect from March 28, positive sentiment is being seen amid the news.
Jio Finance, Adani Power, IRFC, PFC, REC as well as stocks added to the index are seeing a rise. If you have not checked this list yet, no problem. Let us know about the changes taking place in the index in the article.
After reviewing the shares, the NSE committee has told the market about the changes. According to the information, one share has been changed in Nifty 50. Whereas shares have been changed five times in Nifty Next 50 and Nifty 100.
Changes have been made in fourteen stocks in Nifty Midcap 150 and thirty-three stocks in Nifty 500. Thirty-six stocks have been changed in Nifty Smallcap 250. Four stocks have been changed in Nifty Midcap Select. All these changes will come into effect from the session of March 28.
Number of Share Changes
Let us now know which companies have been included in the index and which have been excluded. NSE has announced that Shriram Finance has now entered the Nifty 50 index in place of UPL. That means UPL will now be out of the Nifty 50 index.
The company said Shriram Finance has been added to the Nifty 50. It was added because it had the highest six-month average free float market cap of the potential replacement stocks for UPL.Â
According to the Nuvama analyst, the change in Nifty Fifty will bring in $ 21.7 crore through Shriram Finance. It will also send out $ 11.4 crore through UPL.
Also, Adani Wilmar, Muthoot Finance, PI Industries, and Procter & Gamble Hygiene and Healthcare have been dropped from Nifty Next 50. Shriram Finance has been removed from and added to Nifty 50. And Adani Power in the index.
Indian Railway Finance Corporation (IRFC), Power Finance Corporation (PFC), and REC have been included in Nifty Next 50. Besides, Ambani's new company Jio Financial has also been entered into Nifty Next 50.
UPL, Adani Wilmar, Muthoot Finance, PI Industries, and P&G Hygiene & Healthcare are out of the Nifty 100 index. Adani Power, IRFC, Jio Financial Services, PFC, and REC are in. Nuvama says that after this change, $89 million could flow into Jio Finance.
There may be an inflow of $48 million in PFC, $45 million in Adani Power, and $45 million in REC. At the same time, Nuvama said that there could be an outflow of $23 million in IRFC. At the same time, $32 million could flow out of PI Industries, Muthoot Finance, and Adani Wilmar.
Changes have been made in 34 stocks in the Nifty 500. Anand Rathi Wealth, Caplin Point, Cello World, Chennai Petroleum, Garden Reach Shipbuilders, GMDC, Honasa Consumer, IREDA, Inox Wind, J&K Bank, Jio Financial, JSW Infra, RailTel Corporation, and Titagarh Rail System are in the index.
The stocks leaving the index include Aarti Drugs, Delta Corp, Infibeam Avenue, Lux Industries, Nazara Technologies, Pfizer, Procter & Gamble Health, Rein Industries, Rallis India, Relaxo, Sheela Foam, Symphony, TTK Prestige, V Mart, and Zydus Wellness.
Vodafone and Idea, as well as Lupine Limited, PI Industries, and UPL, have been added to Nifty Midcap Select. Changes have also been made in another Nifty index. Apollo Tyres, Exide Industries, and Tata Motors DVR were added to the Nifty Auto index. Sona, BLW, Precision Forgings, and Tube Investments India were removed from it.
Century Plywood, Cera Sanitaryware, and Kalyan Jewellers have been added to Nifty Consumer Durables. They join V.I.P. Industries. The index has dropped Orient Electric, Relaxo Footwears, TTK Prestige, and V Guard Industries.
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