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Apollo Hospitals' share price rises on entry in Nifty 50 index from March

Apollo Hospitals will become the first-ever healthcare services company to become part of the benchmark index.

Mumbai / February 25, 2022 / 10:04 AM IST
 
 
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Apollo Hospitals Enterprise's share price rose on February 25 after the National Stock Exchange (NSE) had announced that the stock would be included in the benchmark Nifty 50 index effective from March 31.

Apollo Hospitals will become the first ever healthcare services company to become part of the benchmark index and will replace Indian Oil Corporation.

Brokerage firm Edelweiss Securities expects the inclusion of Apollo Hospitals into Nifty 50 to result in inflows of $143 million from exchange-traded funds that mirror the index.

Dealers said that the stock could see buying from traders ahead of the inclusion in the index in the hope of selling the shares to exchange-traded funds after the inclusion.

The inclusion for Apollo Hospitals comes in the backdrop of a period of weakness for the stock given that it has fallen 23 percent in the past three months and around 26 percent from its 52-week high.

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At 9:45 am, shares of Apollo Hospitals were up 4.1 percent at Rs 4,559.6 on the National Stock Exchange.



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