Two multibagger stocks eyeing Nifty crown, one is Tata and another PSU
Nifty has 50 stocks which are selected based on a free-float m-cap weighted method, wherein the level of the index reflects the free-float m-cap of all stocks in the barometer. HDFC Bank has the highest weightage in Nifty at 11.48%, followed by RIL, ICICI Bank, Infosys, and L&T
Two multibagger - 's retailer and defence stock () - are being seen as top contenders for in the headline index in September rejig."As per our early analysis, we firmly believe (high conviction) and Bharat Electronics (strong contender) will displace LTI Mindtree and Divi's Labs, respectively. The possible changes would lead to an inflow into Trent and BEL to the tune of $429 million and $361 million respectively," said Abhilash Pagaria of Nuvama Alternative & Quantitative Research.
Alongside the exclusion names, LTIMindtree and Divi's will experience an outflow to the tune of $186 million and $213 million, respectively.
For the calculation, indices will consider the average cap cut-off until the end of July. An official announcement will occur in the latter half of August, with the adjustment taking place on September 30.
However, if Sebi approves F&O inclusion for Zomato and Jio Financial Services before the announcement by in August, they will have a higher chance to make it to Nifty than both Trent and BEL, Pagaria said.
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As of now, the only stock closer to BEL is Hindustan Aeronautics (HAL), he said, adding that if the latter outperforms by more than 20% soon and stays there till the end of July, then it will have a higher chance.
Earlier in March-end, Shriram Finance had replaced UPL in a reshuffle.
The has 50 stocks which are selected based on a free-float market capitalisation weighted method, wherein the level of the index reflects the free-float market capitalisation of all stocks in the barometer.
has the highest weightage in Nifty at 11.48%, while , ICICI Bank, Infosys, and L&T are the other top 4 stocks based on weightage in the index.
(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Source: Stocks-Markets-Economic Times
