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Nifty 200 Momentum 30 Index shuffles stocks: Here are the new midcap additions

Of the 30 index constituents 15 stocks were replaced with new picks

January 05, 2022 / 08:51 AM IST
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The Nifty 200 Momentum 30 Index (NM30) captures the performance of the top 30 companies with high momentum within the Nifty 200 Index. The index performed its semi-annual rebalancing exercise in December 2021. Of the 30 constituents, half the stocks were retained and 15 were replaced with new picks. The UTI Nifty200 Momentum 30 Index Fund (UNM30F) is the only mutual fund  tracking the index and is expected to have followed suit. Here are the newly added midcap and smallcap stocks in the basket of NM30 during December 2021. Source: Nifty indices.com. Value as of December 31, 2021.
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The Nifty 200 Momentum 30 Index stocks are selected based on their normalized momentum score, which is determined based on their six-month and 12-month price returns. Performance based on the five-year rolling return shows that the Nifty200 Momentum 30 Index managed to outperform the main benchmarks across most of the time frames by huge margins. UNM30F is suitable for investors with a high risk profile and a investment horizon of more than five years.
Bharat elec 1
Bharat Electronics is one of the newly added midcap stocks in the basket of NM30. Brokers such as LKP securities and Geojit Financial Services have given buy calls on the stock (based on the reports issued over the last 2-3 months). Around 121 mutual fund schemes had exposure to the stock as of November 30, 2021.
Coforge 2
The mid-sized IT company was preferred by 82 schemes as of November 30, 2021.  Axis Direct, BOB Capital Markets and Prabhudas Lilladhar have given buy calls on the stock.
dixon-technologies-3
Edelweiss and ICICI securities gave buy recommendation on the stock of Dixon Technologies. As many as 73 schemes held exposure to the stock as of November 30, 2021.
Escorts 4
Escorts was one of the preferred stocks by the mutual funds in the recent period. About 63 schemes held the stock in their portfolio (as of November 30, 2021). While brokers such as Edelweiss and ICICI securities gave buy calls, CD Equisearch and Motilal Oswal maintained neutral stance on the stock.
Mphasis 5
As many as 120 schemes held the stock in their portfolio (as of November 30, 2021). Stock brokers such as Prabhudas Lilladhar and BOB Capital Markets gave buy call on the stock.
Polycab 6
This specialty chemical stock has been preferred by 93 scheems as of November 30, 2021. Brokers such as LKP Securities and ICICI securities gave buy call on the stock.
SRF 7
Brokers like Edelweiss and HDFC securities gave buy call in the stock SRF (based on the reports issued over the last 3 months).
Torrent power
Brokers like HDFC securities and BOB Capital Markets gave sell call on the stock (based on the reports issued over the last 2-3 months).
intro11
Some of the newly added large-cap stocks in the NM30 last month were Bajaj Finserv, Bharti Airtel, Larsen & Toubro Infotech, Tech Mahindra, Titan Company and United Spirits.
Dhuraivel Gunasekaran
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