Nuvama estimates that Nifty Next 50 exclusions should see outflows between $8 million and $23 million once the rebalancing occurs.
Stocks like Adani Wilmar, ABB India, Canara Bank, Page Industries and Varun Beverages are expected to see inflows between $9 million and $35 million after inclusion in the Nifty Next 50 index, according to estimates from Nuvama Alternative Research.
The stocks will be included in the Nifty Junior Index as part of the National Stock Exchange’s semi-annual review of broader equity indices.
The Nifty Next 50 Index represents 50 companies from the Nifty 100 after excluding the Nifty 50 companies.
Changes to the Nifty Next 50 index will also apply to the Nifty 100 index.
No changes were made to the Nifty 50, Nifty Bank and Nifty IT indices.
The changes to the indices will take effect from March 31.
| Stock | Estimated admissions ($millions) |
| Adani Wilmar | 9 |
| ABB India | 21 |
| Canara Bank | 24 |
| Industry page | 28 |
| Varun drinks | 35 |
| Source: Nuvama Alternative Research |
The five names will replace five other stocks – Bandhan Bank, Biocon, Gland Pharma, Mphasis and One 97 Communications – the parent company of Paytm, which will be excluded from the index.
Nuvama estimates that these five stocks will see outflows between $8 million and $23 million once the rebalancing occurs.
| Stock | Estimated admissions ($millions) |
| Payment | 8 |
| Gland Pharma | 11 |
| Biocon | 14 |
| Bandhan Bank | 23 |
| Mphase | 23 |
| Source: Nuvama Alternative Research |
On top of that, the Nifty 500 index will see the inclusion of recent listings like Bikaji Foods, Five-Star Business Finance, Global Health Ltd. or Medanta, Keystone Realtors, Kfin Tech and 15 other companies, while Aditya Birla Sun Life AMC, MOIL, Dilip Buildcon, Shilpa Medicare and others will be excluded.
(Edited by : Hormaz Fatakia)
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