Apollo Hospitals to enter Nifty50 index on March 31; stock surges 7%

Apollo Hospitals Enterprises will replace state-owned oil marketing company Indian Oil Corporation in the index

Shares of Apollo Hospitals Enterprises rallied 7 per cent to Rs 4,681 on the National Stock Exchange (NSE) in Friday's intra-day trade after the exchange announced inclusion of the company in its benchmark Nifty50 index with effect from March 31, 2022.

Apollo Hospitals Enterprises will replace state-owned oil marketing company Indian Oil Corporation (IOCL) in the index. Shares of IOCL were 3 per cent higher at Rs 113.75, after surging 8 per cent to Rs 118.50 on the NSE in the intra-day trade.

Shares of Apollo Hospitals Enterprises have corrected 21 per cent from their 52-week high level