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Apollo Hospitals replaces IOC in Nifty50 as NSE revises eligibility norms, swaps stocks in key indices

Apollo Hospitals Enterprise Ltd will replace Indian Oil Corporation Ltd in Nifty50.

February 25, 2022 / 07:35 AM IST
 
 
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The National Stock Exchange (NSE) on February 24, notified of the changes in eligibility criteria of NIFTY equity indices and replacement of stocks in various indices as part of its periodic review. These changes shall become effective from March 31, 2022 (close of March 30, 2022).

As per the existing criteria, the minimum listing history requirement in case of new listing and companies traded subsequent to scheme of arrangement for corporate events requires constituents to have a minimum listing history of three months. This has now been reduced to minimum listing history of one month.

“The change in eligibility criteria would be applicable with an immediate effect to all NIFTY equity indices which currently mandates requirement of minimum of 3 months of listing for inclusion in the index”, the release from NSE said.

The release also notified about the exclusion of Indian Oil Corporation Ltd (IOCL) from Nifty50, which will be replaced by Apollo Hospitals Enterprise Ltd.