Hindustan Zinc, Siemens gain on Nifty reshuffle; Hero MotoCorp rises

Hindustan Zinc and Siemens Energy India gained among new Nifty entrants, while Hero MotoCorp rose 7.4 per cent despite exclusion as passive selling hit IndusInd Bank

Hindustan Zinc (HZL) and Siemens Energy India emerged as the only gainers among the latest additions to the Nifty 50 and Nifty Next 50 indices, with respective gains of 12 per cent and 4 per cent.

 

On 22 August, NSE Indices announced the inclusion of airline operator InterGlobe Aviation (IndiGo) and hospital chain Max Healthcare in the benchmark Nifty 50 index, replacing Hero MotoCorp and IndusInd Bank. Meanwhile, Solar Industries, Siemens Energy India, Mazagon Dock Shipbuilders, and Hindustan Zinc were added to the Nifty Next 50. The change took effect on Tuesday.

 

Since the announcement, Max Healthcare has dropped 11 per cent, while IndiGo has fallen 8.3 per cent, despite estimated passive buying worth nearly $1 billion linked to its Nifty 50 inclusion. In contrast, Hero MotoCorp has gained 7.4 per cent despite being excluded from the Nifty 50, which triggered passive selling of roughly $300 million. The gains are attributed to the rally in auto stocks driven by the reduction in goods and services tax (GST). IndusInd Bank, the other exclusion, has declined 4.2 per cent, with over $200 million sold by Nifty 50 trackers.

 

The Nifty 50 index itself is down nearly 2 per cent since 22 August.

 

Among the Nifty Next 50 movers, Solar Industries has fallen nearly 9 per cent since the announcement, while Mazagon Dock has remained largely flat. The index’s exclusions—Swiggy, Dabur, and ICICI Prudential Life—have all declined.

 

HZL’s strong performance is supported by rising silver prices. As India’s largest silver producer, silver accounts for around 20–25 per cent of HZL’s revenue but contributes 35–40 per cent of its EBITDA, making it a key driver of margins, according to Emkay. Gains in HZL also reflect broader strength in the Nifty Metal index, driven by rising global bullion and base metal prices. Siemens’ gains are supported by a robust growth outlook amid the transition to new energy technologies.