BSE, IndiGo likely to replace IndusInd Bank, Hero MotoCorp making way in Nifty50 index
Shares of BSE Ltd and InterGlobe Aviation, the parent company of IndiGo, may be poised to join the Nifty 50 index in the upcoming reshuffle, according to a report by CNBC-TV18, citing sources familiar with the matter. IndusInd Bank and Hero MotoCorp are among the names that could potentially be removed from the benchmark index in the next review, the report added.
ADVERTISEMENT The changes are part of the semi-annual review of the Nifty 50 index, which is expected to take place in August, with the revised composition likely to take effect from September.
BSE is likely to meet all eligibility norms, including listing and trading requirements, despite being listed only on the National Stock Exchange (NSE). Inclusion in the Nifty 50 is typically determined by factors such as average free-float market capitalisation and liquidity thresholds.
The development, if confirmed, would mark a significant milestone for Asia's oldest stock exchange, which has seen strong performance in recent months. InterGlobe Aviation, India's largest airline operator by market share, has also demonstrated consistent market presence, potentially strengthening its case for inclusion.
Also read: HDB Financial Services GMP at 6.3% ahead of IPO. What should investors do?
On the other hand, IndusInd Bank, which has faced challenges in maintaining growth momentum, and Hero MotoCorp, grappling with demand pressures in the two-wheeler segment, are seen as likely exclusion candidates based on the existing index criteria.
ADVERTISEMENT In the last year, shares of BSE have given a stellar 224.49% return to its investors, while those of IndiGo have surged by 26.44%.In contrast, IndusInd Bank shares have dropped 44.76% during the same period, while Hero MotoCorp has declined 21.82% over the past year.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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