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Nuvama Alternative and Quantitative Research believes that these three stocks are among the “high probables” for an inclusion into the Nifty Junior or the Nifty Next 50 index during the upcoming rejig.
The Nifty Next 50 index is a collection of stocks who are next in line for a potential inclusion into the benchmark Nifty 50 index.
Along with these three names, shares of Hyundai Motor India, which happens to be India’s largest IPO till date, CG Power, are also poised to be included in the Next 50 index, according to Nuvama Alternative.
In case shares of BPCL and Britannia are excluded from the Nifty 50 index during this reshuffle, they will also be moved to the Next 50 index, according to the note.Nuvama Alternative believes that an inclusion of NTPC Green Energy into the Next 50 index will result in inflows of $7 million, while that of Bajaj Housing Finance and Swiggy will result in inflows of $8 million and $9 million respectively.
Shares of NTPC Green Energy have corrected nearly 30% from their post-listing high and are back to their IPO price of ₹108.
Shares of Bajaj Housing Finance, which were among the most successful listings of 2024 are also down nearly 40% from their post-listing high of ₹188.
Swiggy shares briefly slipped below their IPO price last month and are also down significantly from their post-listing high. The food delivery aggregator will be reporting results on Wednesday.
