Britannia might replace HPCL in the Nifty 50 index, says brokerage

Consumer goods company Britannia Industries could replace state-owned oil marketing company Hindustan Petroleum Corporation (HPCL) in the benchmark Nifty 50 index, said domestic brokerage ICICI Direct. Besides, JSW Steel or Godrej Consumer Products also have a fair chance of replacing Lupin in the index, the brokerage added.

According to brokerages, NSE could announce changes to its index next month and it could become effective from the start of the October series derivatives contract.

As the Nifty 50 index is widely tracked by exchange-traded funds (ETFs), any changes to its components impacts liquidity of a stock. Typically, a stock that is