Can someone please explain this?
BPCL is part of Nifty 50. (Mcap as of today 77k crores and promoter holding 53%)
However IOCL which has much larger mcap (mcap as of today 130k crores and promoter holding 51.5%) is not a part of Nifty but it is part of Nifty Next 50.
Per the Nifty Index methodology ,
market-cap is NOT the only factor used to determine constituents of Nifty 50 and Nifty Next 50.
Perhaps the other factors are the reason why IOCL is NOT part of Nifty 50 ? 
- average impact cost of 0.50% or less for 90% of the observations for a basket size of Rs. 10 Crores.
- should have derivative contracts available on NSE.
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