The September 2022 Rejig for Nifty Indices has been the subject of a preventative investigation by Edelweiss Alternative & Quantitative Research. The list will be formally announced by the Index provider in the second half of August 2022.
According to the brokerage and research business, Adani Wilmer (AWLTD), Indian Railway Catering and Tourism Corporation (IRCTC Ltd), Motherson, Bharat Electronics Ltd (BEL), and Hindustan Aeronautics Ltd. may be included in the Nifty Next 50 index (HAL).
However, according to Edelweiss, Lupin Ltd (LPC), Jubilant Foodworks (JUBI), Zydus Lifesciences (ZYDUSLIF), Punjab National Bank (PNB), and Steel Authority of India are likely to be excluded from the index (SAIL).
Meanwhile, Adani Enterprises has a good possibility of unseating Shree Cements in the Nifty 50 index, per Edelweiss’ early estimate. “Adani Enterprises has moved up appx 42% (CMP- INR 3,013 vs 30 May price- INR 2,130) and SRCM is down by 4% (CMP- INR 21,575 and 30 May price- INR 22,400). As we have been highlighting the momentum will continue till the rebalance date as both the stocks have limited free float,” it said.
The Nifty 50 index will undergo its impending semi-annual revisions, which will primarily be disclosed next week and take effect on September 30, 2022.