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Stocks of Zee Entertainment, GAIL India, and Bharti Infratel could be excluded from the Nifty50 when the index is reconstituted next, suggests a July 30 report by IDBI Capital authored by A K Prabhakar, head of research at the Mumbai-based brokerage co-authored with Dhartikumar Sahu. These three stocks, according to IDBI Capital, are likely to pave way for SBI Life Insurance, Divi’s Lab, and Dabur India.
The Nifty50 broad-based index is reviewed twice a year based on six-month data ending January 31 and July 31. Eligibility criteria for newly listed security are checked based on the data for a three month period instead of a six month period. The Nifty indices, the IDBI report said, are computed using a float-adjusted weighted market capitalisation methodology, which takes into account the constituent changes in the index and corporate actions such as stock splits, rights issuance, etc., without affecting the index value.