Zomato, Paytm, Nykaa in Nifty Junior
Three of the new age stocks that were listed last year — Zomato, Paytm and Nykaa — will be a part of the Nifty Next50 index from March 31.
The Index Maintenance Sub-Committee — Equity (IMSC) of the NSE has decided to make some changes in the eligibility criteria of the Nifty equity indices and has replaced some stocks in various indices as part of its periodic review on Thursday.
Under the revised criteria, constituents should have a minimum listing history of one calendar month as on the cut-off date against the previous requirement of three months.
The bourse also announced the inclusion of some scrips in indices such as Nifty 50, Nifty 500 and Nifty 100. However, the inclusion of Zomato, One97 Communications and FSN E-Commerce in the Nifty Next50 index has caught investor attention.
Their inclusion comes at a time when these scrips have come under pressure in recent weeks. Reacting to the announcement, shares of Zomato today ended higher by 0.45 per cent at Rs 78.80, though the Nykaa scrip closed in the red at Rs 1294.20. on the other hand, the Paytm counter settled higher by 1.50 per cent at Rs 789.55.