Nifty 200 Momentum 30 Index rebalancing: 11 new mid-cap stocks that entered the index

Momentum strategy aims to make money by buying securities when they are rising and selling them when prices start to decline. Mutual funds too offer schemes that picks stocks purely based on the momentum strategy. Currently, there are 12 schemes follow the momentum strategy of which 11 are passively managed. Within these, eight schemes track Nifty 200 Momentum 30 Index (NM30) as benchmark. The index constitutes 30 stocks that are selected from Nifty 200 basket based on the momentum score calculated from their recent 6-month and 12-month price returns adjusted for volatility. In its latest semi-annual rebalancing exercise in June 2023, NSE replaced 16 stocks of which 11 are midcap stocks. Here are the newly added midcap stocks in the basket of NM30 during June 2023. Source: ACEMF. Value as of June 30, 2023.

Apollo Tyres
Sector: Auto Components
No. of actively managed MF stocks that hold the stock: 40

Astral
Sector: Industrial Products
No. of actively managed MF stocks that hold the stock: 69

Aurobindo Pharma
Sector: Pharmaceuticals
No. of actively managed MF stocks that hold the stock: 49

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Dalmia Bharat
Sector: Cements
No. of actively managed MF stocks that hold the stock: 61

Mahindra & Mahindra Financial Services
Sector: Finance
No. of actively managed MF stocks that hold the stock: 80

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Polycab India
Sector: Industrial Products
No. of actively managed MF stocks that hold the stock: 75

Power Finance Corporation
Sector: Finance
No. of actively managed MF stocks that hold the stock: 74

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REC
Sector: Finance
No. of actively managed MF stocks that hold the stock: 38

Syngene International
Sector: Healthcare Services
No. of actively managed MF stocks that hold the stock: 62

Also read: Smallcap MFs outshine: Top schemes surge up to 12 times in 10 years

The Ramco Cements
Sector: Cement
No. of actively managed MF stocks that hold the stock: 52

Zydus Lifesciences
Sector: Pharmaceuticals
No. of actively managed MF stocks that hold the stock: 68

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