India’s leading biscuit company Britannia Industries Limited and JSW Steel Limited will probably make a place on the Nifty50 index shortly, according to the outlook of Indian brokerages. These expectations indicate that the Britannia Industries Limited could replace state-owned Hindustan Petroleum Corporation Ltd (HPCL) and Lupin in the upcoming index rejig.
The list announcing the inclusion or exclusion of these companies is likely to materialize in August this year, and the stocks will most expected be included in the Nifty from the October series onwards.
National Stock Exchange’s flagship index, the NIFTY-50 stock index, is widely used by Indian investors and around the world as an indicator of the Indian capital markets.
As per the guidelines, a maximum of 10% of the index size may be changed in a calendar year, which implies a maximum of 5 stocks can be reinstated among the fifty stocks. Since three changes have already been done in the last rebalancing, only two changes are expected in the upcoming rejig.
Meantime, Share price of Britannia Industries Limited, at this point of updation, is quoting at Rs 6,402.85, up Rs. 28.90, or 0.45 percent, from its previous close of Rs. 6,373.95 on the BSE. The current market cap of the company is Rs. 76,872.07 Crore.