Jio Financial Services Joins The Nifty Next 50 In NSE's Latest Index Rejig

  • Benzinga India
  • Stock Market News
Jio Financial Services Joins The Nifty Next 50 In NSE's Latest Index Rejig
Credit: © Reuters.

Benzinga - Jio Financial Services (NS: JIOF ), a key player from the Reliance Industries (NS: RELI ) family, has made its way into the Nifty Next 50 index, in the latest shake-up by the National Stock Exchange.

What Happened: As part of the semi-annual adjustments set for March 28, this inclusion positions Jio Financial alongside four other newcomers: REC (NS: RECM ), PFC, IRFC, and Adani Power (NS: ADAN ).

This reshuffle sees the exit of Adani Wilmar (NS: ADAW ), Muthoot Finance (NS: MUTT ), PI Industries (NS: PIIL ), Procter & Gamble Hygiene & Health Care, and Shriram Finance from the index.

But the changes don’t stop there. The Nifty 500 index is witnessing a major overhaul, with 34 stocks getting shuffled. New entrants include Honasa Consumer (NS: HONA ) and Jammu & Kashmir Bank, while companies like Brightcom Group (NS: BRIH ) and Delta Corp (NS: DELT ) are making their exit.

See also: Reliance Shares Jump After Disney Merger Announcement: What Brokerages Are Saying

It’s not just the Nifty 500 feeling the winds of change. The Nifty 100, Nifty Midcap 150, Nifty Smallcap 250, and Nifty Midcap Select indices are all undergoing significant adjustments. Notably, Vodafone Idea (NS: VODA ) has climbed into the Nifty Midcap Select index, securing a spot in the top 5 based on its market cap.

Meanwhile, stalwarts like Lupin (NS: LUPN ) and UPL (NS: UPLL ) are also making their mark in the Midcap Select Index. On the flip side, Abbott India (NS: ABOT ) and Balkrishna Industries (NS: BLKI ) are among those bowing out from the Midcap Select index, marking a season of notable shifts across various NSE indices.

Price Action: Jio Financial Services Ltd. shares were trading 2.81% higher at ₹316.95 on early Thursday.

Read next: Tata Stock Slumps As Brokerage Downgrades Rating From ‘Buy’

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