NSE Indices Announces Stock Replacements in Key Indices, Effective March 28, 2025

The Index Maintenance Sub-Committee (Equity) of NSE Indices Limited has decided to make replacement of stocks in various indices as part of its periodic review as listed hereunder. These changes shall become effective from March 28, 2025 (close of March 27, 2025).

1. Replacements on account of semi-annual review of broad market indices:

1. Nifty 50

The following companies are being excluded:

The following companies are being included:

Note: 

1. Zomato Ltd. (average free-float market capitalization Rs. 1,69,837 crores) and Jio Financial Services Ltd. (average free-float market capitalization Rs. 1,04,387 crores) have been included in Nifty 50 index as the 6-month average free-float market capitalization of these companies within eligible universe is at least 1.5 times the 6-month average free-float market capitalization of the smallest constituents i.e. Bharat Petroleum Corporation Ltd. (average free-float market capitalization Rs. 60,928 crores) and Britannia Industries Ltd. (average free-float market capitalization Rs. 64,151 crores) respectively.
2. Next two eligible companies namely InterGlobe Aviation Ltd. (Rs. 86,688 crores) and Hindustan Aeronautics Ltd. (Rs. 82,993 crores) were not considered for inclusion in Nifty 50 index as the average free-float market capitalization of two Nifty 50 constituents with lowest average free-float market capitalization (after exclusion of two companies in Nifty 50 listed above) was less than 1.5 times the 6-month average free-float market capitalization Hero MotoCorp Ltd. (Rs. 64,181 crores) and Eicher Motors Ltd. (Rs. 66,764 crores).
3. Stocks that are available for trading in NSE’s Futures & Options segment are only eligible for inclusion in the index.

The above replacements will also be applicable to Nifty50 Equal Weight index.

1. Nifty 500

The following companies are being excluded:

The following companies are being included:

The above replacements will also be applicable to Nifty500 Equal Weight, Nifty500 Multicap 50:25:25 and Nifty500 LargeMidSmall Equal-Cap Weighted indices.

1. Nifty 100

The following companies are being excluded:

The following companies are being included:

The above replacements will also be applicable to Nifty100 Equal Weight index.

1. Nifty Next 50

The following companies are being excluded:

Note: 

1. Zomato Ltd. and Jio Financial Services Ltd. have been removed from Nifty Next 50 on account of their inclusion in Nifty 50 index
2. Adani Total Gas Ltd., Bharat Heavy Electricals Ltd., Indian Railway Catering and Tourism Corporation Ltd., NHPC Ltd. and Union Bank of India have been removed from Nifty Next 50 pursuant to their exclusion from Nifty 100 index (a parent index for Nifty Next 50)

The following companies are being included:

Note: 

1. Constituents of Nifty 50 and Nifty Next 50 indices are derived from Nifty 100 index (a parent index). All 7 constituents in the table above which are constituents of reconstituted Nifty 100 (but not part of Nifty 50) have been included in Nifty Next 50 index.

1. Nifty Midcap 150

The following companies are being excluded:

The following companies are being included: