JUST IN
Pidilite may miss out on Nifty 50 inclusion post index rebalancing
Radiant Cash Management shares debut with 10% premium over issue price
NTECL pays Rs 100.11 crore interim dividend to NTPC for its 50% stake
Nayara Energy reports significant progress on its entry into petrochemicals
FPIs sets record, offloaded Rs 1.2 trillion worth of Indian stocks in 2022
Tech-led slump on Wall Street led to fall in Asian markets post-Christmas
Combination of factors behind LIC share price going up: Experts
Fertiliser stocks are shining; and there's more to the rally, say experts
Sensex rises 379 pts, Nifty closes above 17,800; M&M gains 2.28%
Auto, FMCG lead market charge as Nifty closes at a four-month high
You are here: Home » Markets » Stocks » Index Composition
PG Electroplast soars 8%, hits new high on strong business outlook
icon-arrow-left
Business Standard

Pidilite may miss out on Nifty 50 inclusion post index rebalancing

The stock was widely expected to get added to the index, but does not have enough free float market cap to dislodge BPCL

Topics
Pidilite Industries | Nifty 50

BS Reporter  |  Mumbai 

PIDILITE
The stock was widely expected to get added to the index

Pidilite Industries is unlikely to get added to the benchmark Nifty 50 index during its rebalancing exercise in March. The stock—currently the highest ranked non-index constituent—was widely expected to get added to the index.

“With only five trading days to go in the review period, we see no constituent changes to the Nifty Index at the March rebalance. Pidilite’s free float market cap does not exceed 1.5 times the free-float market cap of Bharat Petroleum Corp (BPCL),” said analyst Brian Freitas of Periscope Analytics, who publishes on Smartkarma.

"BPCL is currently the lowest-ranked index constituent with an average free float market cap of Rs 31,783 crore. A non-Nifty stock to dislodge it would require to have an average free float mcap of at least Rs 47,674 crore. Pidiltie’s average free float mcap during the review period stood at Rs 40,391 crore, according to calculations by Freitas.

Subscribe to Business Standard Premium

Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!

Insightful news, sharp views, newsletters, e-paper, and more! Unlock incisive commentary only on Business Standard.

Download the Business Standard App for latest Business News and Market News .

Read our full coverage on Pidilite Industries

First Published: Tue, January 24 2023. 17:14 IST

`
RECOMMENDED FOR YOU
.