Revision in Nifty Indices from 30th September 2022

[ShubhS9]

As part of the NSE Indices periodic review, NSE has decided to replace stocks in various indices. The following changes will be effective from September 30, 2022, onwards.

Changes in broader market indices:

Nifty 50

Excluded from the index;

Sr. No.	Company Name	Symbol
1	Shree Cement Ltd.	SHREECEM

Included in the index;

Sr. No.	Company Name	Symbol
1	Adani Enterprises Ltd.	ADANIENT

Nifty Next 50

Excluded from the index;

Sr. No.	Company Name	Symbol
1	Adani Enterprises Ltd.	ADANIENT
2	Jubilant Foodworks Ltd.	JUBLFOOD
3	Lupin Ltd.	LUPIN
4	MindTree Ltd.*	MINDTREE
5	Punjab National Bank	PNB
6	Steel Authority of India Ltd.	SAIL
7	Zydus Lifesciences Ltd.	ZYDUSLIFE

Included in the index;

Sr. No.	Company Name		Symbol
1	Adani Total Gas Ltd.		ATGL
2	Bharat Electronics Ltd.		BEL
3	Hindustan Aeronautics Ltd.		HAL
4	Indian Railway Catering and Tourism Corporation Ltd.		IRCTC
5	MphasiS Ltd.		MPHASIS
6	Samvardhana Motherson International Ltd.		MOTHERSON
7	Shree Cement Ltd.		SHREECEM

Nifty 500

Excluded from the index;

Sr. No.	Company Name	Symbol
1	Advanced Enzyme Tech Ltd.	ADVENZYMES
2	Eris Lifesciences Ltd.	ERIS
3	Glenmark Life Sciences Ltd.	GLS
4	Hathway Cable & Datacom Ltd.	HATHWAY
5	Hemisphere Properties India Ltd.	HEMIPROP
6	Indo Count Industries Ltd.	ICIL
7	IRCON International Ltd.	IRCON
8	MindTree Ltd.*	MINDTREE
9	NESCO Ltd.	NESCO
10	Railtel Corporation Of India Ltd.	RAILTEL
11	Sequent Scientific Ltd.	SEQUENT
12	Solara Active Pharma Sciences Ltd.	SOLARA
13	Spicejet Ltd.	SPICEJET
14	Strides Pharma Science Ltd.	STAR
15	Tata Steel Long Products Ltd.	TATASTLLP
16	UCO Bank	UCOBANK
17	Vakrangee Ltd.	VAKRANGEE
18	Venky’s (India) Ltd.	VENKEYS

*MindTree Ltd. has been excluded on account of proposed scheme of amalgamation with L&T Infotech.

Included in the index;

Sr. No.	Company Name	Symbol
1	Adani Wilmar Ltd.	AWL
2	Aether Industries Ltd.	AETHER
3	Bharat Rasayan Ltd.	BHARATRAS
4	Deepak Fertilisers & Petrochemicals Corp. Ltd.	DEEPAKFERT
5	Greenpanel Industries Ltd.	GREENPANEL
6	JBM Auto Ltd.	JBMA
7	Mahindra Lifespace Developers Ltd.	MAHLIFE
8	Motherson Sumi Wiring India Ltd.	MSUMI
9	NIIT Ltd.	NIITLTD
10	Olectra Greentech Ltd.	OLECTRA
11	Patanjali Foods Ltd.	PATANJALI
12	Raymond Ltd.	RAYMOND
13	Samvardhana Motherson International Ltd.	MOTHERSON
14	Sharda Cropchem Ltd.	SHARDACROP
15	Swan Energy Ltd.	SWANENERGY
16	Tejas Networks Ltd.	TEJASNET
17	Transport Corporation of India Ltd.	TCI
18	Vedant Fashions Ltd.	MANYAVAR

Nifty 100

Excluded from the index;

Sr. No.	Company Name	Symbol
1	Jubilant Foodworks Ltd.	JUBLFOOD
2	Lupin Ltd.	LUPIN
3	MindTree Ltd.*	MINDTREE
4	Punjab National Bank	PNB
5	Steel Authority of India Ltd.	SAIL
6	Zydus Lifesciences Ltd.	ZYDUSLIFE

*MindTree Ltd. has been excluded on account of proposed scheme of amalgamation with L&T Infotech.

Included in the index;

Sr. No.		Company Name			Symbol
1		Adani Total Gas Ltd.			ATGL
2		Bharat Electronics Ltd.			BEL
3		Hindustan Aeronautics Ltd.			HAL
4		Indian Railway Catering and Tourism Corporation Ltd.			IRCTC
5		MphasiS Ltd.			MPHASIS
6		Samvardhana Motherson International Ltd.			MOTHERSON

Nifty MidCap Select

Excluded from the index;

Sr. No.	Company Name		Symbol
1	Bharat Electronics Ltd.		BEL
2	Hindustan Aeronautics Ltd.		HAL
3	Indian Railway Catering and Tourism Corporation Ltd.		IRCTC
4	MphasiS Ltd.		MPHASIS

Included in the index;

Sr. No.	Company Name	Symbol
1	ABB India Ltd.	ABB
2	Indian Hotels Co. Ltd.	INDHOTEL
3	Jindal Steel & Power Ltd.	JINDALSTEL
4	Jubilant Foodworks Ltd.	JUBLFOOD

Nifty MidCap 150

Excluded from the index;

Sr. No.	Company Name			Symbol
1	Adani Total Gas Ltd.			ATGL
2	Apollo Tyres Ltd.			APOLLOTYRE
3	Bharat Electronics Ltd.			BEL
4	Exide Industries Ltd.			EXIDEIND
5	Glenmark Pharmaceuticals Ltd.			GLENMARK
6	Hindustan Aeronautics Ltd.			HAL
7	IDBI Bank Ltd.			IDBI
8	Indian Railway Catering and Tourism Corporation Ltd.			IRCTC
9	Manappuram Finance Ltd.			MANAPPURAM
10	Metropolis Healthcare Ltd.			METROPOLIS
11	MphasiS Ltd.			MPHASIS
12	Nuvoco Vistas Corporation Ltd.			NUVOCO

Included in the index;

Sr. No.	Company Name		Symbol
1	Adani Wilmar Ltd.		AWL
2	Devyani International Ltd.		DEVYANI
3	Jubilant Foodworks Ltd.		JUBLFOOD
4	K.P.R. Mill Ltd.		KPRMILL
5	Lupin Ltd.		LUPIN
6	Motherson Sumi Wiring India Ltd.		MSUMI
7	Patanjali Foods Ltd.		PATANJALI
8	Poonawalla Fincorp Ltd.		POONAWALLA
9	Punjab National Bank		PNB
10	Steel Authority of India Ltd.		SAIL
11	Vedant Fashions Ltd.		MANYAVAR
12	Zydus Lifesciences Ltd.		ZYDUSLIFE

Nifty SmallCap 100

Excluded from the index;

Sr. No.		Company Name	Symbol
1		Aptus Value Housing Finance India Ltd.	APTUS
2		Avanti Feeds Ltd.	AVANTIFEED
3		BASF India Ltd.	BASF
4		Central Bank of India	CENTRALBK
5		Devyani International Ltd.	DEVYANI
6		Dilip Buildcon Ltd.	DBL
7		Edelweiss Financial Services Ltd.	EDELWEISS
8		GMM Pfaudler Ltd.	GMMPFAUDLR
9		H.E.G. Ltd.	HEG
10		Indian Overseas Bank	IOB
11		JK Lakshmi Cement Ltd.	JKLAKSHMI
12		JM Financial Ltd.	JMFINANCIL
13		Kalyan Jewellers India Ltd.	KALYANKJIL
14		Motilal Oswal Financial Services Ltd.	MOTILALOFS
15		PNB Housing Finance Ltd.	PNBHOUSING
16		Poonawalla Fincorp Ltd.	POONAWALLA
17		Prince Pipes and Fittings Ltd.	PRINCEPIPE
18		Rail Vikas Nigam Ltd.	RVNL
19		Rossari Biotech Ltd.	ROSSARI
20		Sonata Software Ltd.	SONATSOFTW
21		Sun Pharma Advanced Research Company Ltd.	SPARC

Included in the index;

Sr. No.	Company Name	Symbol
1	Aether Industries Ltd.	AETHER
2	Apollo Tyres Ltd.	APOLLOTYRE
3	Borosil Renewables Ltd.	BORORENEW
4	Campus Activewear Ltd.	CAMPUS
5	CreditAccess Grameen Ltd.	CREDITACC
6	Deepak Fertilisers & Petrochemicals Corp. Ltd.	DEEPAKFERT
7	Easy Trip Planners Ltd.	EASEMYTRIP
8	Elgi Equipments Ltd.	ELGIEQUIP
9	Exide Industries Ltd.	EXIDEIND
10	Glenmark Pharmaceuticals Ltd.	GLENMARK
11	IDBI Bank Ltd.	IDBI
12	IIFL Finance Ltd.	IIFL
13	Manappuram Finance Ltd.	MANAPPURAM
14	Mangalore Refinery & Petrochemicals Ltd.	MRPL
15	Metropolis Healthcare Ltd.	METROPOLIS
16	Network18 Media & Investments Ltd.	NETWORK18
17	NLC India Ltd.	NLCINDIA
18	Polyplex Corporation Ltd.	POLYPLEX
19	Praj Industries Ltd.	PRAJIND
20	Shree Renuka Sugars Ltd.	RENUKA
21	Triveni Engineering & Industries Ltd.	TRIVENI

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Changes in sectoral indices:

Nifty Auto

Excluded from the index;

Sr. No.	Company Name	Symbol
1	Escorts Kubota Ltd.	ESCORTS

Included in the index;

Sr. No.	Company Name	Symbol
1	Samvardhana Motherson International Ltd.	MOTHERSON

Nifty IT

Excluded from the index:

Sr. No.	Company Name	Symbol
1	MindTree Ltd.*	MINDTREE

*MindTree Ltd. has been excluded on account of proposed scheme of amalgamation with L&T Infotech.

Included in the index;

Sr. No.	Company Name	Symbol
1	Persistent Systems Ltd.	PERSISTENT

Nifty Pharma

Excluded from the index;

Sr. No.	Company Name	Symbol
1	Alembic Pharmaceuticals Ltd.	APLLTD
2	Strides Pharma Science Ltd.	STAR

Included in the index:

Sr. No.	Company Name	Symbol
1	Glaxosmithkline Pharmaceuticals Ltd.	GLAXO
2	Sanofi India Ltd.	SANOFI

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You can check the changes for all broader market as well as sectoral indices here:

https://www.niftyindices.com/Press_Release/ind_prs01092022.pdf

Here’s how index rejigs impact the stocks:

The constituents of Nifty 50 will change from tomorrow, how will this affect investors?

This would change Fund houses and their schemes tracking purely nifty as benchmark in order to adjust weightage may Buy or add further those stocks which would be added to nifty and sell or reduce the ones going out (or might have already done) leading to rise and fall of prices of stocks concerned respectively in days to come. Nifty market capitalization, eps and eventually pe will get adjusted accordingly to the components… Now pe is around 25.5 Nifty would again become 50 stocks index as …

[neha1101]

I was hoping One 97 Communication (Paytm) and zomato will be removed from Nifty Next 50. Well need to bear with these until the next rejig

[GB26]

Their presence may be dragging down the performance of the index, but it always happens with constituents, some rise and some fall.

One objective of index investing is not to pay any attention to exclusions and inclusions, and rather look at the performance and draw down of the index, and may be compare it with other indices. So if one is invested for the long term, these exclusions and inclusions are of no concern, as these always happen and any index does not the remain the same, it changes.

[Dharsha]

I always avoid Nifty Next 50 becz of frequent changes.
In case of Nifty 50, only last constituent (having share of 0.5%) will move out
But in case of Nifty Next 50- Both the side stocks will come in and out (Top performers will move to Nifty 50 and Low performers will move to MIDCAP 150)

So, its difficult for Index funds with higher AUM to handle this situations, leading to high tracking error

[raoawesome]

@Bhuvan

I am kinda curious. How does this affect holders of ETF ?

Should they sell all ETF units and buy back again?

[GB26]

There could be some effect due to the weight of current inclusions and their profitability, but I don’t think if these can be calculated easily by us. Without quantifying the change, I don’t think it is correct to sell.

Which indices are you talking about BTW?

[ShubhS9]

@raoawesome

I am kinda curious. How does this affect holders of ETF ?

Should they sell all ETF units and buy back again?

ETFs and mutual funds tracking these indexes will have to rebalance the portfolio, selling stocks that are being excluded and buying those that are included according to their weightage in the index.

You don’t have to sell and buy back the ETFs or the mutual fund you’re holding for the changes to reflect.

[raoawesome]

@GB26

Which indices are you talking about BTW?

Niftybees

I am holding it since 6 months. Well buying it like SIP every month at my time.

[GB26]

There is only 1 exclusion/inclusion, and the included Adani Enterprises is the 15th largest in the index, so I think the change of 1 inclusion will be less than the change in the top 10 stocks that changed their positions in a month or a quarter, so I don’t know how much of an effect will there be on Nifty with the inclusion of 1 stock. And if the price goes down for Adani Enterprises, it will come down, so the effect will be less.