Dabur or Shree Cement likely to enter Nifty

MUMBAI: Dabur or Shree Cement is likely to find a place in the Nifty index in its next semi-annual rejig due on March 27, according to ICICI Securities. Since Shree Cement’s increase in free float due to a qualified institutional placement (QIP) took place in mid-November, it had a lower impact on Average Free Float Market Capitalisation (AFMC), which remains lower than Dabur’s by 1 per cent, said the brokerage.

Despite a sharp increase in the market- cap, HDFC Life and SBI Life are currently ineligible for inclusion into the main index because they are not part of the futures and options segment. If they are included for derivatives trading, both could enter the index, replacing Yes Bank and Zee Entertainment, the brokerage added.