BS Reporter | Mumbai Last Updated at February 23, 2021 20:07 IST
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 Britannia in the widely-tracked Nifty 50 index. NSE has also announced changes to its several other indices such as Nifty Next 50, Nifty 100 and Nifty 500. Adani Enterprises, Apollo Hospitals and Jubilant Foodworks are among the seven stocks added to the Nifty Next 50 index.
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