Stock Shuffles: IOC Removed from Nifty 50; Paytm, Nykaa Added to Nifty Next 50

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Stock Shuffles: IOC Removed from Nifty 50; Paytm, Nykaa Added to Nifty Next 50
Credit: © Reuters.

By Malvika Gurung -- As part of the recent changes notified by the National Stock Exchange on Feb 24, there has been some replacement of stocks announced in different Nifty equity indices, including the exchange’s benchmark gauge Nifty 50 .

Hospitals chain Apollo Hospitals (NS: APLH ) will replace the state-owned oil refiner Indian Oil (NS: IOC ) from Nifty 50, starting March 31, 2022.

Similarly, the Nifty Next 50 index will see some stock shuffles. 

Stocks including Aurobindo Pharma (NS: ARBN ), Hindustan Petroleum (NS: HPCL ) Corp, Apollo Hospitals, Jindal Steel & Power (NS: JNSP ), Yes Bank (NS: YESB ) and Indraprastha Gas (NS: IGAS ) will be removed from the index.

These scrips will be replaced by Paytm (NS: PAYT ), Nykaa (NS: FSNE ), Zomato (NS: ZOMT ), IOC, MindTree (NS: MINT ) and SRF Tyres  (NS: SRFL ).

Besides, other Nifty indices will also see stock reshuffles, including the broadest market index Nifty 500 , Nifty 100, Nifty Bank , Nifty Financial Services , Nifty Auto , Nifty Oil & Gas, Nifty Healthcare, and Nifty Metal , among others.

Stock replacements in these Nifty indices will come under effect from March 31.

On Thursday, NSE notified that the minimum listing history requirement for a new listing, along with companies traded after the scheme of arrangement for corporate events, have been revised from 3 months to 1 month now.

In addition, the Index Maintenance Sub-Committee Equity of the exchange has decided to change the constituents of Nifty indices, as part of its periodic review, stated a PTI report.

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