Kwality Wall’s to Join Nifty 50 Post HUL Ice Cream Business Demerger from December 5

Kwality Wall’s India Ltd will be included in the Nifty 50 from December 5, 2025, following the demerger of Hindustan Unilever Ltd’s (HUL) ice-cream business. The National Stock Exchange (NSE) has announced adjustments across 35 indices as part of this development. 

Kwality Wall’s India to be Added to Nifty Indices at Zero Price 

From December 5, Kwality Wall’s India Ltd will be temporarily included in 35 Nifty indices, including the Nifty 50, Nifty 100, Nifty 500, Nifty FMCG and several thematic indices. The listing will use a dummy symbol ‘DUMMYHDLVR’ and will reflect a zero price. This is consistent with the Nifty index framework for handling demergers and will be executed without divisor adjustment. 

The NSE will conduct a special pre-open session on December 5 for HUL to enable orderly price discovery, responding to this structural change. This step aims to smoothen investor transition and market mechanism as the standalone entity begins to reflect independently in trading. 

Structure and Rationale Behind the Demerger 

HUL’s board approved the demerger on January 22, 2025, stating that the ice-cream vertical demands a distinct approach in terms of its business model, supply chain, and capital needs. The separation aligns with Unilever PLC’s global move to carve out its ice-cream division into an independent setup. 

Read More: Kwality Wall’s India Makes Key Board Members Appointments Ahead of Its Demerger from HUL! 

HUL Q2 FY25 Earnings Results 

In the September quarter, HUL posted a net profit of ₹2,694 crore, supported by a one-time tax resolution gain of ₹273 crore. Standalone revenue stood at ₹15,585 crore, marking a 0.5% increase year-on-year. However, EBITDA declined 2.3% YoY to ₹3,563 crore, with margins at 22.9%, down 60 basis points. Post-demerger, margin improvement of 50–60 basis points is anticipated. 

Conclusion 

Kwality Wall’s India’s temporary inclusion in major indices follows a structured demerger from HUL, consistent with regulatory practices. The move supports focused operational strategy and ensures smooth index transitions. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

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