Apollo Hospitals to replace Indian Oil from Nifty 50 from Mar 31

25 Feb 2022 , 09:59 AM

According to the NSE press release, Apollo Hospitals will replace Indian Oil in the benchmark Nifty 50 from March 31, 2022, as part of the semi-annual index review. The changes will also be applicable to the Nifty 50 Equal Weight Index.

Apart from Nifty 50, changes have been announced in several indices including Nifty Next 50.

One 97 Communication, owner of Paytm; FSN E-Commerce Ventures, which runs online marketplace Nykaa, Zomato Ltd, Indian Oil Corporation Ltd, MindTree Ltd and SRF Ltd will find a place in Nifty Next 50.

Apollo Hospitals Enterprise, Aurobindo Pharma, Hindustan Petroleum Corporation Ltd, Indraprastha Gas Ltd, Jindal Steel & Power Ltd and Yes Bank will be excluded from Nifty Next 50.

The Index Maintenance Sub-Committee – Equity (IMSC) of NSE Indices Limited has decided to make the changes in eligibility criteria of NIFTY equity indices and replacement of stocks in various indices as part of its periodic review as listed hereunder.  These changes shall become effective from March 31, 2022 (close of March 30, 2022).

Besides, NSE Indices has revised the eligibility criteria for the inclusion of stocks in Nifty equity indices.

The change in eligibility criteria would be applicable with an immediate effect to all NIFTY equity indices which currently mandates a requirement of a minimum of 3 months of listing for inclusion in the index.