Five stocks replaced in Nifty Next 50 from June 26th

Last Updated on August 12, 2025 at 10:27 am

The NSE has made several changes to its indices in its late-June portfolio reset. Notable are fives changes in Nifty Next 50, twelve from Nifty Midcap 100 and twenty-five from Nifty 500. Here is a selected listing.

Broad market NIfty indices are reviewed in March and September each year. However additional changes can be made if any stock undergoes a corporate event such as a merger, spin-off, compulsory delisting or suspension etc. According to the Nifty index methodology document, “the equity shareholders’ approval to a scheme of arrangement is considered as a trigger to initiate the exclusion of such stock from the index through additional index reconstitution”. In addition, compliance of stock weights with SEBI’s Portfolio Concentration Norms for ETFs and Index Funds is ensured each quarter.

Nifty Growth Sectors 15: Sectors that exhibit PE and PB on average greater than the Nifty are first selected. Then, the top 50% market cap of all such stocks is shortlisted and ranked in terms of EPS growth. Top 15 in the list forms the index.

Nifty low volatility 50: The Low volatility 50 is selected from the top 300 companies (arranged by the free-float market cap) and by choosing the ones with the lowest standard deviation of daily returns (volatility). The stocks with the lowest volatility has a higher weight. I had earlier shown how impressive this index has fared against Quantum Long Term Equity: Nifty Low Volatility 50: A Benchmark Index to watch out for

Nifty Alpha 50: Alpha is a measure of outperformance with respect to a risk-free rate and correlation with a given index. The alpha 50 is an index of 50 stocks that has the highest alpha among the top 300 stocks in terms of market cap is selected. Almost half the index has changed!

Nifty Dividend Opportunities 50: Top 50 stocks ranked in terms of dividend yield from the top 300 stocks (market cap) make up this index. This rejig saw 17 changes!

Nifty 50: No change as on 26th June 2020. In March Shree Cement replaced Yes Bank. HDFC Life will replace Vedanta from end-July 2020 as the latter stock is going ‘private’.

Nifty Next 50, Nifty 100: Fives changes from 26th June.

Nifty Midcap 100:  12 changes. IRCTC within 9 months of its listing is now part of this index.

Source: NSE Index Monthly Reports