BSE set to enter Nifty 50 from tomorrow, IT major Wipro to exit. What shareholders must know?
Wipro is in focus.
· ET Stocks, Economic Times Markets, Business Today Mkts, Business Standard Mkts
BSE has been included in the Nifty 50 after its six-month average free-float market capitalisation came in at Rs 1,40,879 crore. This is at least 1.5 times the six-month average free-float market capitalisation of the smallest constituent in the eligible universe, Wipro, whose average free-float market capitalisation stood at Rs 55,930 crore, according to the NSE release in August.
The analysis
Wipro reported Rs 1,40,879 crore and Rs 55,930 crore. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is -0.3% on the day at ₹159.14, and has returned -7.2% over three months. It sits 42% below its 52-week high, which means a good deal of bad news was already in the price. The it sector has moved +1.1% over the same period, so Wipro is running 8.3 points behind its peers.
For Wipro, the question is how much of this is already reflected in the price and how much re-rates the it peer set alongside it.
Why it matters
- With NSE, BSE involved, this carries a regulatory dimension that can outlast the immediate market reaction.
Market context
- The company directly in focus is WIPRO.
- Sector exposure: IT.
In this story
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