Brokers debate potential additions to Nifty

Reuters Market Eye - United Spirits Ltd and Wipro Ltd are "strongly placed" to be included in the Nifty, replacing Reliance Infrastructure Ltd and Ranbaxy Laboratories Ltd, according to brokerage Ambit.

The National Stock Exchange typically announces changes to constituents in its main index in mid-August.

The brokerage says that United Spirits and Wipro have the biggest free-float market capitalisation outside of the Nifty currently.

Edelweiss Securities says it also expects Reliance Infrastructure and Ranbaxy to be excluded, though it expects Mcdowell Holdings Ltd and Idea Cellular Ltd to be included based on free float market value.

Although Tech Mahindra Ltd has also been tipped by some investors as a possible addition, Edelweiss says the free float market cap has not had a sufficient history after the company's merger with Satyam Computer Services Ltd last month.

 

(Reporting by Abhishek Vishnoi)