Adani Power, Jio Financial get Junior Nifty seat. Check full list of new entries & exits here

NSE has announced rejig in Nifty Next 50 index with five inclusions and as many exclusions. These five new entrants are Jio Financial Services, Power Finance Corporation (PFC), Adani Power, REC and Indian Railway Finance Corporation (IRFC) while the exclusions are Shriram Finance, PI Industries, Procter & Gamble Hygiene and Health, Muthoot Finance and Adani Wilmar. The rebalancing will likely see net inflows of $108 million according to Nuvama's estimates and changes come into effect on March 28, 2024.

The inclusion of Jio Financial will trigger likely inflows of $89 million

For PFC, the passive inflows are likely to be to the tune of $48 million, according to Nuvama's estimates.

With the inclusion of Adani Power in Nifty Next 50, the stock is expected to see passive inflows of $45 million.

With state-run REC's inclusion in the junior Nifty index, passive inflows of $45 million are estimated by Nuvama.

Inclusion of this multibagger counter in Nifty Next 50 will trigger inflows of $23 million.

Shriram Finance has exited the index after its promotion to Nifty. Its departure is likely to trigger outflows of $72 million.

Exclusion of PI Industries from Nifty Next 50 will trigger outflows of Rs $32 million, according to estimates by Nuvama.

Exclusion of P&G Hygiene and Health from junior Nifty index will trigger outflows of Rs $16 million.

The gold loan finance company stock is another exclusion from Nifty Next 50 and could see outflows of $15 million

This Adani Stock could witness outflows of $7 million, Nuvama estimates.