On Wednesday, the National Stock Exchange declared that, as of March 28, Shriram Finance Ltd. will take UPL Ltd.’s spot in the benchmark Nifty50 index. This is the result of UPL being removed from the Nifty 100 index and then eliminated from the Nifty50 index.
The market maker said that, among the qualifying universe, Shriram Finance has the greatest 6-month average free-float market capitalization, hence it has been added to the Nifty50 index, taking the place of UPL Ltd.
The Nifty Next 50 index now includes Adani Power, REC Ltd, Power Finance Corporation, Jio Financial Services, and Indian Railway Finance Corporation. On the other hand, the index no longer includes Adani Wilmar, Muthoot Finance, PI Industries, Procter & Gamble Hygiene & Health Care, and Shriram Finance.
The Nifty 500 index has seen a substantial shuffle, with 34 stocks being added and eliminated. Honasa Consumer, Jio Financial, AstraZeneca Pharma, Jammu & Kashmir Bank, Chennai Petroleum Corporation, JSW Infrastructure, Jupiter Waggons, Nuvama Wealth, and Railtel Corporation are a few of the newcomers. On the other hand, the companies that are being left out are Brightcom Group, Delta Corp, Go Fashion, Infibeam Avenues, Nazara Technologies, Pfizer, Orient Electric, Rallis India, Rossari Biotech, and Shoppers Stop.
Not only has the Nifty 500 experienced substantial adjustments, but so have the Nifty 100, Nifty Midcap 150, Nifty Smallcap 250, and Nifty Midcap Select indices. Vodafone Idea is now ranked in the top 5 of the eligible universe’s 6-month average whole market capitalization, making it a part of the Nifty Midcap Select index.
