Nifty50 stocks Bank of Baroda, Tata PowerBSE -0.19 %, ACCBSE 1.68 % and Tata MotorsBSE -0.41 % DVR are no longer part of the Nifty50. The NSE has removed these stocks effective September 29 from its benchmark 50-pack index in favour of Bajaj FinanceBSE 0.29 %, Hindustan Petroleum BSE 2.77 % Corp and United Phosphorus BSE 1.68 %.
Analysts said the rejig may result in a slight increase in Nifty50 EPS estimates for FY18, but a fall in FY19 estimates due to increase in free-float market capitalisation.
With the inclusion of Bajaj Finance, the weightage of financials in the Nifty is expected to go up further to about 36 per cent from the existing 33 per cent, which is combined weightage of oil, technology and automobile sectors put together, analysts said.
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