Stocks are added to the Nifty Next 50 based on the free-float market capitalization of companies. These companies are logically in line with the Nifty 50 in terms of market capitalization
The Nifty Next 50 index represents the performance and weightage of the next 50 stocks that come after the top 50 companies. These companies have the potential to be included in the Nifty 50 in the future and are ranked between 51 to 100 by free-float market capitalization.
Listed below are the stocks that are set to be added to in Nifty Next 50 by replacing Adani Wilmar, Muthoot Finance, PI Industries, Procter & Gamble Hygiene and Health Care, and Shriram Finance:
Adani Power Ltd
With a market capitalization of Rs. 2,08,660 crores, the shares of the thermal power-producing company started Thursday’s trading session on a higher note at Rs. 553.35 compared to its previous close of Rs. 549.60. During the trading session, the shares hit a low of Rs. 538, making a loss of around 2 percent and are currently trading at Rs. 542 apiece.
Looking at the company’s financial statements, the revenue was constant at Rs. 12,991 crores during the recent quarter. On a contrasting note, the net profits declined by 50 percent from Rs. 6,594 during the September quarter to Rs. 2,738 crores in the December quarter.
Indian Railway Finance Corporation Ltd
With a market capitalization of Rs. 1,92,434 crores, the shares of the railway financing company started Thursday’s trading session on a lower note at Rs. 146 compared to its previous close of Rs. 147.40. During the trading session, the shares hit a high of Rs. 150, gaining around 1 percent and are currently trading at Rs. 147 apiece.
Looking at the company’s financial statements, the revenue decreased marginally by 0.3 percent from Rs. 6,767 crores in the September quarter to Rs. 6,742 crores in the December quarter. On a contrasting note, the net profits increased by 7 percent from Rs. 1,550 crores to Rs. 1,660 crores during the same period.
Power Finance Corporation Ltd
With a market capitalization of Rs. 1,31,229 crores, the shares of the infrastructure financing company started Thursday’s trading session on a flatter note at Rs. 389. During the trading session, the shares hit a high of Rs. 401, gaining around 2 percent and are currently trading at Rs. 396 apiece.
Looking at the company’s financial statements, the revenue increased by 5 percent from Rs. 22,391 crores in the September quarter to Rs. 23,572 crores in the December quarter. On a contrasting note, the net profits decreased by 5 percent from Rs. 6,628 crores to Rs. 6,294 crores during the same period.
REC Ltd
With a market capitalization of Rs. 1,15,546 crores, the shares of the PSU started Thursday’s trading session on a higher note at Rs. 429.20 compared to its previous close of 426.60. During the trading session, the shares hit a high of Rs. 442, gaining around 4 percent and are currently trading at Rs. 439 apiece.
Looking at the company’s financial statements, the revenue increased by 3 percent from Rs. 11,688 crores in the September quarter to Rs. 12,052 crores in the December quarter. On a contrasting note, the net profits decreased by 12 percent from Rs. 3,790 crores to Rs. 3,308 crores during the same period.
Written By Vaibhav Patil
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