Jio Financial, Adani Power among 5 stocks that may enter Junior Nifty
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New Entrants
According to brokerage firm Nuvama's preliminary analysis, Jio Financial, Adani Power and 3 other stocks may enter the Nifty Next 50 (Junior Nifty) index. At the same time, Shriram Finance, Adani Wilmar and a few other stocks may be excluded from the index.Based on a report by Nuvama, here is the list of stocks that may enter and exit the Junior Nifty:
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Jio Financial
According to Nuvama's preliminary analysis, Jio Financial may enter the Nifty Next 50 Index. From its 52-week high of Rs 278.2, Jio Financial is trading 13% lower. It has a market cap of Rs 1,53,844 crore.
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IRFC
IRFC is the second stock that may enter the Nifty Next 50 index, according to Nuvama. IRFC is a multibagger stock that has delivered over 150% returns in the past one year. It has a market cap of Rs 1,08,664 crore.
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PFC
Another multibagger stock, PFC is likely enter the Nifty Next 50 index. PFC has rallied over 230% in the last one year. It has a market cap of 1,28,258 crore.
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Polycab India
Wires and cables manufacturer Polycab is another contender to enter the Nifty Next 50 index. Polycab is a multibagger stock, as it has given nearly 120% returns year-to-date. The firm has a market cap of Rs 84,462 crore.
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Adani Power
Billionaire Gautam Adani-led Adani Power also may enter the Nifty Next 50 index. Adani Power has rallied 400% in the last two years and over 1,000% in the past three years.
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Probable Exclusions
Shriram Finance, Adani Wilmar, Muthoot Finance, Procter & Gamble Hygiene & Health Care, and Bajaj Holdings and Investment are the stocks that may be excluded from the Nifty Next 50 index, according to Nuvama report.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)