Shriram Finance replaces UPL in Nifty50

Shriram Finance will replace UPL in Nifty 50 from March 28, 2024

NSE announced Shriram Finance will make its entrance to Nifty 50, replacing UPL from the index. The changes will come into place on March 28, 2024. Additionally, Jio Financial Services will enter Nifty Next 50.

Nuvama analysts expects  $217 million inflow to Shriram and $114 million outflow from UPL due to the rejig in Nifty 50.

In addition to Jio Financial Services, Adani Power, Indian Railway Finance Corporation, Power Finance Corporation and REC will make it into the Nifty Next 50.

NSE in its press release also said that Adani Wilmar, Muthoot Finance, PI Industries, Procter and Gamble Health and Hygiene Care will exit from Nifty Next 50.

Changes have been made in other indices like Nifty Auto where Apollo Tyres, Exide Industries, Tata Motors DVR are inclusions while Sona BLW Precision Forgings and Tube Investments of India are exclusions.

In Nifty Consumer Durables, Century Plyboards, Cera Sanitaryware, Kalyan Jewellers, VIP Industries are inclusions while Orient Electric, Relaxo Footwears, TTK Prestige, V-Guard Industries are exclusions.

In Nifty Financial Services, IDFC will replace Indian Energy Exchange.
In Nifty FMCG, Balrapur Chini Miils will replace Emami.

In Nifty Pharma, JB Chemicals and Pharmaceuticals and Mankind Pharma will replace Glaxosmithkline Pharmaceuticals and Pfizer.
In Nifty Realty, Sunteck Realty will replace Swan Energy.

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