UPL To Be Replaced By Shriram Finance In Nifty50 From March 28!

Shriram Finance Enters Nifty 50, UPL Exits

Effective March 28, Shriram Finance will replace UPL Ltd in the Nifty 50 index. This decision follows UPL’s removal from the Nifty 50 due to its exclusion from the Nifty 100 index, the parent index for Nifty 50. Shriram Finance‘s inclusion is based on having the highest six-month average free-float market capitalization within the eligible universe, making it a fitting replacement for UPL.

Changes in Nifty Next 50

Adani Power, IRFC, Jio Financial Services, Power Finance Corp, and REC will replace Adani Wilmar, Muthoot Finance, PI Industries, and Procter & Gamble Hygiene & Health Care in Nifty Next 50.

Wide-ranging Changes in Various Indices

Apart from Nifty 50 and Nifty Next 50, adjustments have been announced across several indices, including Nifty 500 and Nifty 100. Changes also extend to sectoral indices such as Pharma, Realty, Media, FMCG, Auto, Financial Services, and Consumer Durables.

New Entrants in Nifty 500

Recently listed stocks like Honasa Consumer, Happy Forgings, Inox Wind, and Tata Technologies have been included in Nifty 500.

Exclusions from Nifty 500

Brightcom Group Ltd., G R Infraprojects Ltd., Nazara Technologies, Pfizer Ltd., TTK Prestige Ltd., Shoppers Stop Ltd., Teamlease Services, Zydus Wellness, and 26 other companies will be excluded from the Nifty 500. They will be replaced by Cello World, DOMS Industries, Happy Forgings, Honasa Consumers, IREDA, Inox Wind Ltd., Jio Financial Services, and Titagarah Rail Systems, among others.

Inclusions in Nifty Midcap Select

Lupin, PI Industries, Vodafone Idea, and UPL are included in Nifty Midcap Select. Vodafone Idea’s inclusion is attributed to its ranking within the top five stocks based on six-month average full market capitalization within the eligible universe.

Implementation Details

The Index Maintenance Sub-Committee (Equity) of NSE Indices Ltd has decided on these stock replacements as part of its periodic review. These changes will come into effect on March 28, 2024.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.