4 Adani Group Stocks Among 14 Excluded From NSE Nifty Alpha 50 Index | DETAILS

Nifty Alpha 50 Index is a well diversified 50-stock index that aims to measure the performance of securities listed on the NSE with high alphas.

New Delhi: The National Stock Exchange (NSE) on Monday excluded four Adani Group listed companies from its Nifty Alpha 50 list, after a quarterly review of strategy indices. These changes will come into effect from March 31, 2023.

A total of 14 stocks have been excluded from the Nifty Alpha 50 index. They are:

1. Adani Enterprise
2. Adani Green Energy
3. Adani Total Gas
4. Adani Transmission.
5. Aditya Birla Fashion and Retail
6. Angel One
7. Elgi Equipments
8. Fine Organic Industries
9. Gujarat Narmada Valley Fertilizers and Chemicals
10. KEI Industries
11. Page Industries
12. SRF
13. Suzlon Energy
14. Tata Elxsi

The aforementioned stocks have been replaced by the following stocks:

1. Aditya Birla Capital
2. Apollo Tyres
3. Bank of India
4. Bharat Heavy Electricals
5. Britannia Industries
6. IDFC First Bank
7. Jindal Steel & Power
8. L&T Finance Holdings
9. Mahindra & Mahindra Financial Services
10. MRF
11. Power Finance Corporation
12. Punjab National Bank
13. Siemens
14. Zydus Lifesciences

What is NSE Nifty Alpha 50 Index

Nifty Alpha 50 Index is a well diversified 50-stock index that aims to measure the performance of securities listed on the NSE with high alphas. As per the NSE website, in order to make the 50 stock index investible and replicable, criteria such as liquidity and market capitalization are applied while the selection of securities.

What else happened during the quarterly rejig

Adani Group’s cement stocks Ambuja Cements and ACC have been excluded from Nifty Low Volatility 50 index.

Adani Enterprises, Adani Green Energy, Adani Ports, Adani Total Gas, and Adani Transmission excluded from the Nifty 100 Alpha 30 index that aims to measure the performance of the top 30 large-cap securities selected based on the alpha score from the NIFTY 100 index. The weight of each stock in the index is based on the combination of the stock’s alpha score and its free float market capitalization.

Adani Enterprises is also excluded from the Nifty 200 Alpha 30 index which includes the top 30 companies from its parent Nifty 200 index, selected based on their ‘quality’ scores.