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Nestle India set to replace Indiabulls Housing in Nifty next month

So far, Nestle India wasn't part of the Nifty even as its total market cap exceeds over half of Nifty components

Nestle India set to replace Indiabulls Housing in Nifty next month
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Samie Modak Mumbai
Nestlé India will be included in the Nifty a month from now. The multinational company is set to replace troubled NBFC Indiabulls Housing Finance in the broader index.

Analysts believe the change, effective from September 27, will trigger buying worth over Rs 900 crore in Nestlé India by exchange-traded funds (ETFs). 

Indiabulls Housing could see ETF selling of above Rs 300 crore, further weighing on its stock price that has already fallen nearly 50 per cent this year.  

Further, the other 49 Nifty components could see some reduction in their weight to accommodate Nestlé India, whose free-float market capitalisation is nearly thrice that

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First Published: Aug 28 2019 | 10:56 PM IST

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