Informist, Thursday, Aug 17, 2023
–NSE: PNB, TVS Motor to be included in Nifty Next 50
–NSE: Shriram Finance, Trent to be included in Nifty Next 50
–NSE: Zydus Lifesciences to be included in Nifty Next 50
–NSE:ACC, FSN E-Commerce, HDFC AMC to be excluded from Nifty Next 50
–NSE: Indus Towers, Page Industries to be excluded from Nifty Next 50
MUMBAI – NSE Indices, a subsidiary of National Stock Exchange, today announced changes in various Nifty equity indices, based on a semi-annual review of broad-market indices by the index maintenance sub-committee (equity). These changes will take effect from Sep 29.
ACC Ltd, FSN E-Commerce Ventures Ltd, HDFC Asset Management Co Ltd, Indus Towers Ltd, and Page Industries Ltd have been excluded from the Nifty Next 50 index, while Punjab National Bank, Shriram Finance Ltd, Trent Ltd, TVS Motor Co Ltd, and Zydus Lifesciences Ltd have been included.
The inclusions and exclusions for the Nifty Next 50 index will also apply to the Nifty 100 index. Additionally, Tata Motors Ltd DVR has been included in the Nifty 100 index. No changes were announced to the Nifty 50 index.
Changes were also made in other broad-based indices and thematic indices.
In the Nifty Midcap 100 index, ACC, APL Apollo Tubes Ltd, Bharat Dynamics Ltd, Fertilisers and Chemicals Travancore Ltd, FSN E-Commerce, HDFC Asset Management Co, Indus Towers, KPIT Technologies Ltd, Macrotech Developers Ltd, Mazagon Dock Shipbuilders Ltd, Page Industries, and Rail Vikas Nigam Ltd will be included. Going out of the index are Abbott India, Hindustan Zinc Ltd, Honeywell Automation India Ltd, Punjab National Bank, Shriram Finance, Tata Teleservices (Maharashtra) Ltd, Trent, Trident Ltd, TVS Motor Co, Whirpool of India Ltd, and Zydus Lifesciences Ltd.
The Nifty Smallcap 50 will see 15 inclusions and 15 exclusions. Coming into the index are CIE Automotive India Ltd, Finolex Cables Ltd, KEI Industries Ltd, Mahanagar Gas Ltd, Tanla Platforms Ltd, and 10 other companies, while those going out of the index include Balaji Amines Ltd, Graphite India Ltd, Jubilant Ingrevia Ltd, Medplus Health Services Ltd, Metropolis Healthcare Ltd, and 10 others.
Other broad-based indices such as the Nifty 200, the Nifty Smallcap 100, and the Nifty Microcap 250 will also see many inclusions and exclusions with effect from Sep 29, as per the semi-annual review by NSE Indices. Similarly, many sectoral indices and thematic indices will see also changes in their constituents.
NSE Indices has also tweaked the eligibility criteria for all sectoral and thematic indices, specifying additional criteria to be applied in case the number of companies in such an index eligible as per existing criteria is less than 10.
The index company also revised the calculation of price to book value of indices. The price to book value will now be calculated by factoring in the consolidated net worth of index companies where available and the standalone net worth where consolidated financials are not available. Currently, only standalone net worth is considered. End
Reported by Rajesh Gajra
Edited by Avishek Dutta
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