The semi-annual rejig in the Nifty 50 is likely to cause major capital inflows in new entrants Zomato Ltd. and Jio Financial Services Ltd., while pulling money out of Britannia Industries Ltd. and Bharat Petroleum Corp.
Zomato is set to get $391 million or Rs 3,351 crore in fresh flows and Jio Finance about Rs 1,714 crore or $200 million in terms of cumulative flow from passive funds, according to Nuvama Alternative & Quantitative Research.
The stocks will be added to the benchmark index on Thursday, March 27. It will coincide with the derivative expiry for weekly and monthly contracts.
At the same time, Britannia Industries will see an outflow of $153 million or Rs 1,311 crore and BPCL of $145 million or Rs 1,242 crore.
Stocks such as Indian Hotels Co., Power Grid Corp., CG Power and Industrial Solutions Ltd. will also see significant inflows after the rejig comes to effect.
In the Nifty 100 and Nifty 50 Next , the new inclusions are Indian Hotels, Bajaj Housing Finance Ltd., Hyundai Motor India Ltd., CG Power and Swiggy Ltd.
The exclusions from the two indices are Bharat Heavy Electricals Ltd., Indian Railway Catering and Tourism Corp., Adani Total Gas Ltd., NHPC Ltd. and Union Bank of India.
Nifty Cumulative Top 20 Flows
In the broader index, Nifty 500, a total of 30 new stocks have been included.
Ola Electric Mobility Ltd., NTPC Green Energy Ltd., DCM Shriram Ltd., Afcons Infrastructure Ltd., ACME Solar Holdings Ltd., Sagility India Ltd., Waaree Energies Ltd., Vishal Mega Mart Ltd., Wockhardt Ltd., and Zen Technologies Ltd. are among the key inclusions.
Among the notable exclusions are Easy Trip Planners Ltd., Mahindra Lifespace Developers Ltd., Metro Brands Ltd., TVS Supply Chain Solutions Ltd., Equitas Small Finance Bank Ltd., and Ujjivan Small Finance Bank Ltd.
After Nifty 50's revision, Nuvama said the revised EPS estimate for the financial year 2026 will be 1,171 and 1,335 for the following fiscal.
The Nifty price-to-earnings for FY26 will get revised from 19.9 to 20.2 and for FY27 from 17.5 to 17.7.
The revisions were announced by the National Stock Exchange Ltd. last month.
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