Shares of Tata Group‘s Trent and defence major Bharat Electronics were little changed on Monday after their inclusion in the Nifty 50 index.
What Happened: Trent and BEL are poised to replace Divi's Laboratories and LTIMindtree in the Nifty 50 September rejig, the NSE said in a circular released on Saturday.
The NSE circular stated that Trent and BEL were included in the Nifty 50 index as their six-month average free-float market capitalisation was at least 1.5 times that of the smallest constituents, Divi’s and LTIMindtree.
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Divi's Laboratories and LTIMindtree will now be part of the Nifty Next 50 index. BHEL, JSW Energy, Macrotech, NHPC and Union Bank of India have also been included in the Nifty Next 50. The changes will take effect from September 30.
Nuvama Alternative & Quantitative Research had earlier said that the rejig could lead to an inflow of $500 million (around ₹4,195 crore) to Trent and $440 million (around ₹3,692 crore) to BEL. JM Financial predicted that their inclusion could bring in combined inflows of $917 million (₹7,687 crore).
Price Action: Trent was trading 0.81% higher at ₹7,004.95 and BEL gained 0.85% to trade at ₹308.60 as markets opened on Monday.
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