Apollo Hospitals or Info Edge may replace IOC in Nifty 50 in April 2022


Published On: Monday, December 6, 2021 | By:

Apollo Hospitals or Info Edge may replace IOC in Nifty 50 in April 2022

Apollo Hospitals or InfoEdge (Naukri) will enter the Nifty50 index, and replace Indian Oil Corp which will be announced in February based on January 31, 2022, price according to Edelweiss Alternative Research. The research firm said, among the two, Apollo Hospitals has a slightly higher chance than Info Edge to enter the Nifty 50, based on calculations using the past four months of free-float market cap and assumption of the next seven weeks’ average market cap. Currently, both the stocks are 1.5 times higher than Indian Oil’s free-float market cap. While IOC’s free-float market cap, as of December 6, stood at Rs 30,756 crore, Info Edge’s was at Rs 43,824 crore and Apollo Hospital’s free float was at Rs 53,774 crore. “We at Edelweiss Alternative Research have done a pre-emptive analysis of the Semi-Annual Index Rejig of Nifty Indices which will officially be announced in the second half of February 2022,” it said. The rebalance will take effect from March 2022.

According to NSE, the NIfty 50 is a diversified 50 stock index accounting for 13 sectors of the economy.The Nifty 50 index is reconstituted semi-annually considering six months’ data ending January and July. The replacement of stocks in the Nifty 50 (if any) is generally implemented from the first working day of April and October. In case of any replacement in the index, a four weeks’ prior notice is given to market participants.

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