Changes in Constituents of Nifty Indices (w.e.f. September 30, 2025)

Trading Announcements
1

Index-Wise Replacements:

Nifty 50

Inclusions: InterGlobe Aviation (INDIGO), Max Healthcare Institute (MAXHEALTH)
Exclusions: Hero MotoCorp (HEROMOTOCO), IndusInd Bank (INDUSINDBK)

Nifty Next 50

Inclusions: Hindustan Zinc (HINDZINC), Mazagon Dock Shipbuilders (MAZDOCK), Siemens Energy India (ENRIN), Solar Industries India (SOLARINDS)
Exclusions: Dabur India (DABUR), ICICI Prudential Life Insurance (ICICIPRULI), InterGlobe Aviation (INDIGO), Swiggy (SWIGGY)

Nifty Midcap 150

Inclusions: Dabur India (DABUR), Fertilisers and Chemicals Travancore (FACT), Godfrey Phillips India (GODFRYPHLP), Hero MotoCorp (HEROMOTOCO), Hexaware Technologies (HEXT), ICICI Prudential Life Insurance (ICICIPRULI), IDBI Bank (IDBI), Indian Overseas Bank (IOB), IndusInd Bank (INDUSINDBK), ITC Hotels (ITCHOTELS), Procter & Gamble Hygiene & Health Care (PGHH), Swiggy (SWIGGY), UCO Bank (UCOBANK)
Exclusions: Aditya Birla Fashion & Retail (ABFRL), Bandhan Bank (BANDHANBNK), Emami (EMAMILTD), Gland Pharma (GLAND), Hindustan Zinc (HINDZINC), MRPL (MRPL), Max Healthcare Institute (MAXHEALTH), Mazagon Dock Shipbuilders (MAZDOCK), Motherson Sumi Wiring India (MSUMI), Ola Electric Mobility (OLAELEC), Solar Industries India (SOLARINDS), Star Health (STARHEALTH), Sun TV Network (SUNTV)

Nifty Smallcap 250

Inclusions: Aditya Birla Fashion & Retail (ABFRL), Aditya Birla Lifestyle Brands (ABLBL), Aegis Vopak Terminals (AEGISVOPAK), Akzo Nobel India (AKZOINDIA), Ather Energy (ATHERENERG), Bandhan Bank (BANDHANBNK), Blue Jet Healthcare (BLUEJET), Choice International (CHOICEIN), Dr. Agarwal’s Health Care (AGARWALEYE), Emami (EMAMILTD), Force Motors (FORCEMOT), Gland Pharma (GLAND), KSB (KSB), Maharashtra Scooters (MAHSCOOTER), MRPL (MRPL), Motherson Sumi Wiring India (MSUMI), Nuvoco Vistas (NUVOCO), Ola Electric Mobility (OLAELEC), Onesource Specialty Pharma (ONESOURCE), Schloss Bangalore (THELEELA), Star Health (STARHEALTH), Sun TV Network (SUNTV), Ventive Hospitality (VENTIVE)
Exclusions: Alivus Life Sciences (ALIVUS), FACT (FACT), Godfrey Phillips India (GODFRYPHLP), GNFC (GNFC), Gujarat Pipavav Port (GPPL), IDBI Bank (IDBI), Indian Overseas Bank (IOB), JSW Holdings (JSWHL), Justdial (JUSTDIAL), Kansai Nerolac Paints (KANSAINER), KNR Constructions (KNRCON), Mastek (MASTEK), Network18 (NETWORK18), PNC Infratech (PNCINFRA), RattanIndia Enterprises (RTNINDIA), Raymond Lifestyle (RAYMONDLSL), Raymond (RAYMOND), Route Mobile (ROUTE), Shree Renuka Sugars (RENUKA), Sterling & Wilson Renewable Energy (SWSOLAR), Tanla Platforms (TANLA), UCO Bank (UCOBANK), Westlife Foodworld (WESTLIFE)

Nifty 100

Inclusions: Hindustan Zinc (HINDZINC), Max Healthcare Institute (MAXHEALTH), Mazagon Dock Shipbuilders (MAZDOCK), Siemens Energy India (ENRIN), Solar Industries India (SOLARINDS)
Exclusions: Dabur India (DABUR), Hero MotoCorp (HEROMOTOCO), ICICI Prudential Life Insurance (ICICIPRULI), IndusInd Bank (INDUSINDBK), Swiggy (SWIGGY)

Nifty 500

Inclusions: Aditya Birla Lifestyle Brands (ABLBL), Aegis Vopak Terminals (AEGISVOPAK), Akzo Nobel India (AKZOINDIA), Ather Energy (ATHERENERG), Blue Jet Healthcare (BLUEJET), Choice International (CHOICEIN), Dr. Agarwal’s Health Care (AGARWALEYE), Force Motors (FORCEMOT), Hexaware Technologies (HEXT), ITC Hotels (ITCHOTELS), KSB (KSB), Maharashtra Scooters (MAHSCOOTER), Nuvoco Vistas (NUVOCO), Onesource Specialty Pharma (ONESOURCE), Procter & Gamble Hygiene & Health Care (PGHH), Schloss Bangalore (THELEELA), Siemens Energy India (ENRIN), Ventive Hospitality (VENTIVE)
Exclusions: Alivus Life Sciences (ALIVUS), GNFC (GNFC), Gujarat Pipavav Port (GPPL), JSW Holdings (JSWHL), Justdial (JUSTDIAL), Kansai Nerolac Paints (KANSAINER), KNR Constructions (KNRCON), Mastek (MASTEK), Network18 (NETWORK18), PNC Infratech (PNCINFRA), RattanIndia Enterprises (RTNINDIA), Raymond Lifestyle (RAYMONDLSL), Raymond (RAYMOND), Route Mobile (ROUTE), Shree Renuka Sugars (RENUKA), Sterling & Wilson Renewable Energy (SWSOLAR), Tanla Platforms (TANLA), Westlife Foodworld (WESTLIFE)

3 Likes
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Though i dont know the intricate mechanism , i feel zomato and jio financial service do not deserve a place in nifty 50.Replacing britannia and bpcl with zomato and jio i could not agree( i know nobody cares about my opinion.)
Similarly removing heromotors from nifty 50 is also a very very poor decision.

3

i feel zomato and jio financial service do not deserve a place in nifty 50

You should explain more clearly why you think otherwise. The market doesn’t care about what’s in your portfolio or your personal biases. As far as I know, the free-float market cap method used for revision is the standard approach.

NSE:

  1. Hero MotoCorp Ltd. (average free-float market capitalization Rs. 52,336 crores) and IndusInd Bank Ltd. (average
    free-float market capitalization Rs. 55,270 crores) have been removed from Nifty 50 pursuant to its exclusion from
    Nifty 100 index (a parent index for Nifty 50). Replacement of stocks in Nifty 100 are listed out in A.3 below.
  2. InterGlobe Aviation Ltd. (average free-float market capitalization Rs. 1,13,908 crores) and Max Healthcare Institute
    Ltd. (average free-float market capitalization Rs. 84,555 crores) have been included in Nifty 50 index based on higher
    6 month average free-float market capitalization within eligible universe as a replacement to Hero MotoCorp Ltd. and
    IndusInd Bank Ltd
2 Likes
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I think.not only market cap ,but also.profitability should be considered, i.e may be my biased opinion. Further i dont hold any of the above mentioned shares.

5

Ah… Nifty isnt a list of “profitable companies,” they’re designed to represent the broad market performance. free-float market cap is the most direct way to measure a company’s actual weight in the market

Note:

Free float = shares actually available for trading (excludes promoter, government, locked-in holdings).

this makes it a better mirror of investor sentiment.

Just because a company is excluded from the Nifty doesn’t mean it’s a “bad” company. It simply means there are other companies whose free float and trading activity better capture the sentiment of a larger section of investors at this point.

Hope this makes sense to you😊

6

AFAIK, it is not an active decision,
atleast not one that was taken with these specific companies in mind.

The formula / index methodology has been defined when the index was created, and will be periodically evaluated at the pre-defined interval (every 6 months) to update the index constituents.

FWIW, the formula/logic is not that intricate. Checkout the “Index review and eligibility criteria” section of the NIFTY 50 index in the NIFTY indices methodology.
Source: NIFTY 50

2 Likes
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K.sure.