NSE has announced rejig in Nifty Next 50 index with five inclusions and as many exclusions. These five new entrants are Jio Financial Services, Power Finance Corporation (PFC), Adani Power, REC and Indian Railway Finance Corporation (IRFC) while the exclusions are Shriram Finance, PI Industries, Procter & Gamble Hygiene and Health, Muthoot Finance and Adani Wilmar. The rebalancing will likely see net inflows of $108 million according to Nuvama's estimates and changes come into effect on March 28, 2024.
ANI
2/11
Jio Financial Services
The inclusion of Jio Financial will trigger likely inflows of $89 million
Agencies
3/11
PFC
For PFC, the passive inflows are likely to be to the tune of $48 million, according to Nuvama's estimates.
Agencies
4/11
Adani Power
With the inclusion of Adani Power in Nifty Next 50, the stock is expected to see passive inflows of $45 million.
Reuters
5/11
REC
With state-run REC's inclusion in the junior Nifty index, passive inflows of $45 million are estimated by Nuvama.
ETMarkets.com
6/11
IRFC
Inclusion of this multibagger counter in Nifty Next 50 will trigger inflows of $23 million.
ETMarkets.com
7/11
Shriram Finance
Shriram Finance has exited the index after its promotion to Nifty. Its departure is likely to trigger outflows of $72 million.
iStock
8/11
PI Industries
Exclusion of PI Industries from Nifty Next 50 will trigger outflows of Rs $32 million, according to estimates by Nuvama.
ETMarkets.com
9/11
P&G Hygiene and Health
Exclusion of P&G Hygiene and Health from junior Nifty index will trigger outflows of Rs $16 million.
ETMarkets.com
10/11
Muthoot Finance
The gold loan finance company stock is another exclusion from Nifty Next 50 and could see outflows of $15 million
ETMarkets.com
11/11
Adani Wilmar
This Adani Stock could witness outflows of $7 million, Nuvama estimates.
