Apollo Hospitals To Replace Indian Oil In Nifty 50 From March 31
The changes will also be applicable to Nifty 50 Equal Weight Index.
Apollo Hospitals Enterprise Ltd. will replace Indian Oil Corporation Ltd. in the benchmark Nifty 50 from March 31, 2022, as part of the semi-annual index review.
The changes will also be applicable to Nifty 50 Equal Weight Index, the nation’s largest bourse said in a media statement. The Nifty 50 is reconstituted twice every year in March and September.
The exchange also reshuffled the Nifty Next 50, Nifty 500, Nifty 100 and Nifty Midcap 150 indices, among others.
The minimum listing history requirement in case of a new listing, and companies traded subsequent to scheme of arrangement for corporate events has also been relaxed to one month from three months.
The change in eligibility criteria would be applicable with immediate effect to all Nifty equity indices, which currently mandates requirement of a minimum of three months of listing for inclusion in the index.
Shares of Apollo Hospitals ended 4.83% lower ahead of the announcement on Thursday. Shares of Indian Oil Corp., too, closed 5.98% lower at Rs 110.15 apiece.
See the list of full changes here...