BOB may replace RBL in Bank Nifty: Edelweiss Alternative Research

Mumbai: Edelweiss Alternative Research said on Monday the forthcoming Nifty Bank review is likely to see Bank of Baroda replacing RBL Bank. This announcement is likely to come in the second half of February 2022.

BoB will have a weightage of 1.8% on inclusion in the Nifty Bank index, it said. While Bank of Baroda could see an inflow of $63 million on inclusion, shares of RBL Bank could see a selling of $28 million on exclusion, said Edelweiss Alternative Research.