Change in the air: Nifty50 could see one of its biggest rejig, say analysts

The Nifty50 could see one of its biggest rejig, predict analysts at ICICI Direct. The sharp correction in equities because of the Covid-19 pandemic has seen the market cap of several existing components fall sharply. The free-float market cap of many other stocks, which are currently not part of the index, has surged past them. Index inclusion prospects are tied to free-float market cap (total market cap minus value of shares held by promoters or those under lock-in). “We believe the upcoming Nifty review in September will be the biggest reshuffle seen in recent history. Perhaps, we may see a