Nifty 50 Rejig Likely: BSE, IndiGo May Enter; IndusInd Bank, Hero MotoCorp On Exit Watch
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BSE Ltd, and InterGlobe Aviation—parent company of IndiGo—are likely contenders for inclusion in the Nifty 50 index in the upcoming review
BSE Ltd, and InterGlobe Aviation—the parent company of IndiGo—are likely contenders for inclusion in the Nifty 50 index in the upcoming review, according to sources cited by CNBC-TV18. On the other hand, IndusInd Bank and Hero MotoCorp may be removed from the index due to recent underperformance and negative triggers.
BSE Ltd, despite being listed only on the NSE, is reportedly eligible for inclusion as it meets the required listing and trading criteria. Its stock has surged nearly 120% from March lows, driven by robust growth in equity derivatives volumes and excitement around the anticipated IPO of NSE. Recently, BSE shares were placed under the Additional Surveillance Measure (ASM) framework due to unusual price and volume activity.
IndiGo's parent, InterGlobe Aviation, has seen a 22% rise in its share price over the past six months, supported by strong passenger traffic and market leadership. Brokerage Jefferies has called it a 'unique, strong" franchise, highlighting its dominant 60% domestic market share.
As of 12:50 PM, BSE shares were up over 2% at Rs 2,745, while InterGlobe Aviation gained 0.75% to Rs 5,431.
IndusInd Bank has underperformed in recent months, falling 11% in six months amid governance concerns, regulatory scrutiny, and questions over derivatives exposure. The stock has also been dropped from the Sensex.
At the same time, IndusInd Bank traded 0.4% lower at Rs 837, while Hero MotoCorp was down 2% at Rs 4,256 per share.
The Nifty 50 index is reviewed semi-annually, based on data for the six-month periods ending January 31 and July 31. Changes, if any, are implemented in March and September. Eligibility is primarily based on average free-float market capitalisation, which considers only shares available for public trading (excluding promoter and locked-in shares).
The upcoming review is expected in August, with changes taking effect in September.
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