Bajaj Housing Finance Ltd., NTPC Green Energy Ltd. and Swiggy Ltd. shares are likely to come into the limelight this month on account of the bi-annual reshuffle in the NSE indices.
In their opinion, these three stocks are eminent candidates for probable entry into the Nifty Junior or Nifty Next 50 index in the upcoming rejig, Nuvama Alternative and Quantitative Research. Stocks included in the Nifty Next 50 index are those most eligible for the potential inclusion into the Nifty 50 index.
Besides these three, Nuvama Alternative also believes that shares of Hyundai Motor India-the largest IPO in India till date-and CG Power are also candidates for entry into the Next 50 index.
According to the note, to the extent BPCL and Britannia are eliminated from the Nifty 50 index during this restructuring, they would most likely find themselves in the Nifty Next 50 index.
Nuvama Alternative predicts that the inclusion of NTPC Green Energy into the Next 50 index will lead to inflows of $7 million, whereas Bajaj Housing Finance and Swiggy will see inflows of $8 million and $9 million, respectively.
NTPC Green Energy shares have dropped almost 30% since the post-listing peak and are back to the IPO price of ₹108. Similarly, shares of Bajaj Housing Finance, one of the successful IPOs in 2024, have plunged almost 40% from their post-listing high of ₹188. After dipping momentarily below the IPO price last month, shares of Swiggy are way down compared to its post-listing high. The delivery giant will announce results on Wednesday.
