LIC, Adani Wilmar, IRCTC, Tata Power among stocks that may see Nifty Next 50 index inclusion
1 min read 31 May 2022, 12:25 PM ISTProbable inclusions in Nifty Next 50 index may include LICI, Tata Power, Adani Wilmer
PremiumIn the upcoming Nifty September Review, according to brokerage and research firm Edelweiss' Alternative & Quantitative Research preliminary analysis for Nifty indices, newly listed stocks LIC and Adani Wilmar may enter the Nifty Next 50 index.
Probable inclusions in Nifty Next 50 index may include Life Insurance Corporation of India (LICI), Tata Power, Adani Wilmer, Indian Railway Catering and Tourism Corporation (IRCTC), and Mphasis Ltd.
Whereas, Lupin Ltd, Jubilant Foodworks, Zydus Lifesciences, Punjab National Bank (PNB), Steel Authority of India (SAIL) and Adani Enterprises could be the probable exclusions.
Earlier this month, the government raised ₹20,557 crore by diluting its 3.5% stake in the LIC through the initial public offering (IPO), the country's biggest ever. LIC shares, that made market debut on May 17, 2022, are down more than 15% from its IPO issue price.
Adani Wilmar shares got listed in February this year. The newly listed stock has given multibagger return since market debut.
Edelweiss Alternative & Quantitative Research has carried out a pre-emptive analysis of the Semi-Annual Index (SAIR) September 2022 Rejig for Nifty indices. The index provider will officially announce the list in the second half of August 2022. The cut-off date is July 29 whereas the announcement is expected to be in the second half of August and rebal date is September 30, 2022.
Meanwhile, according to Edelweiss' preliminary analysis, Adani Enterprises holds a high chance to dislodge Shree Cements in the Nifty 50 index. Shree Cements has a higher probability of being excluded while the next name on radar would be Hero Motors.
