Tata Consumer to replace Gail India in Nifty 50 effective March 31

Move is expected to result in passive inflows of $89 million (Rs 650 cr) in Tata Consumer. Gail could see outflows of $57 million (Rs 410 cr)

Tata Consumer Products will replace state-owned Gail India in the benchmark Nifty 50 index. The change will take effect on March 31. The move is expected to result in passive inflows of $89 million (Rs 650 crore) in Tata Consumer. Gail, on the other hand, could see outflows of $57 million (Rs 410 crore). On Tuesday, the free float market capitalisation –a key criterion for index inclusion—of Tata Consumer and Gail stood at Rs 36,989 crore and Rs 30,570 crore.

Tata Consumer, formerly known as Tata Global Beverages, will join FMCG peers such as Hindustan Unilever, Nestle India and