‘Info Edge, DMart top contenders for Nifty inclusion’

Mumbai: Online job posting website portal Info Edge India has emerged as a major contender for inclusion in the Nifty index in the upcoming review in September, according to ICICIdirect.

Supermarket chain operator Avenue Supermarts is another contender, but its inclusion hangs on it becoming part of the futures and options segment, the brokerage said.

Shares of Info Edge India, one of the biggest stakeholders of the IPO-bound Zomato, ended up nearly 2% at Rs 5,466.90 on Monday. Avenue Supermarts ended up 1.39% at Rs 3359.20.


The inclusion of these two stocks is likely to happen in place of Indian Oil Corporation and Coal India which are top candidates for exclusion from the index, according to ICICIdirect. The inclusion of Info Edge in the index is likely to lift the weightage of the technology sector in the index.

Currently, banking, finance and insurance sector along with the technology space comprise over 53% of the total Nifty weightage.

The index review happens twice a year considering six months data ending January and July. The replacement of stocks in the index, if there are any changes, is generally implemented from the first working days of April and October.

Any stock that is included will become part of the Nifty from the October series and announcement of the same from the NSE is likely to happen sometime in August.