Tata Consumer could become next FMCG scrip added to Nifty: ICICI Securities

Says the firm is on course to replace state-owned Gail India in the widely-followed index during the semi-annual review set for March

The benchmark Nifty 50 index could see addition of one more stock from the fast moving consumer goods (FMCG) space. According to an analysis done by ICICI Securities, Tata Consumer is on course to replace state-owned Gail India in the widely-followed index during the semi-annual review slated for March. The free-float market cap—a key parameter for index inclusion—of Tata Consumer Products is currently at Rs 36,000 crore, while that of Gail is about Rs 30,000 crore. If the Tata group firm that operates Starbucks cafes in India gets added to the Nifty index, it will join peers such as Hindustan