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Adani Wilmar, Varun Beverages to be Included in Nifty Next 50

National Stock Exchange to include Adani Wilmar, Adani Power to few indices from March 31.

As part of the semi-annual review of the National Stock Exchange’s broader market index, Adani Wilmar, Varun Beverages, Canara Bank, Page Industries, and ABB India will be included in the Nifty Next 50 Index.

The five stocks will replace five other stocks – Bandhan Bank, Biocon, Gland Pharma, Mphasis and One 97 Communications – the parent company of Paytm, which will be excluded from the index.

The Nifty Next 50 Index represents the 50 companies in the Nifty 100, excluding the Nifty 50 companies.

Changes made to the Nifty Next 50 Index will also apply to the Nifty 100 Index. The Nifty 50, Nifty Bank and Nifty IT indices were unchanged.

Shares of Adani Wilmar have tumbled sharply since the Hindenburg scandal broke, following a string of allegations by the US-based short seller of fraudulent trading and price manipulation by a group led by Gautam Adani.

Since January 24, the stock has seen 10 lower circuits of 5% and five upper circuits of 5% and has been volatile.

Adani Wilmar was one of the first IPOs of 2022. Despite the volatility, the stock traded nearly 100% above its IPO price of Rs 230.

The Nifty 500 will include recently listed Bikaji Foods, Five-Star Business Finance, Global Health Ltd or Medanta, Keystone Realtors, Kfin Tech and 15 others. In contrast, Aditya Birla Sun Life AMC, MOIL, Dilip Buildcon, Shilpa Medicare etc., will be excluded.

All these index changes will take effect on March 31.

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