Nifty rejig: IndiGo & Max Healthcare likely to be added in Sept 2025 rebalancing, BSE ruled out

IndiGo has already seen substantial positive price action, stated Nuvama Alternative & Quantitative Research
| Photo Credit:
ANUSHREE FADNAVIS

IndiGo-parent InterGlobe Aviation and Max Healthcare are likely top be added to the benchmark Nifty 50 index during the September 2025 review, according to Nuvama Alternative & Quantitative Research.

BSE has zero probability of being included in the Nifty 50 in the September 2025 review, based on the current methodology and thresholds, the research firm stressed.

Nuvama reiterated that Hero Motocorp and IndusInd Bank might likely exit the index. It is believed that any further downside will be more pronounced around the adjustment period, while much of the negative sentiments appear to have been priced in.

Until then, we do not expect significant pressure purely from expected passive flows, Nuvama added.

The cut-off period ends in July, and the official announcement is expected in the latter half of August, with index adjustments effective September 29, 2025.

The research firm stated IndiGo has already seen substantial positive price action.

Meanwhile, Max Healthcare appears under-owned on this theme and could witness increased buying interest. It’s inclusion would imply passive inflow of over $400 million.

However, Max Health might miss the inclusion, if Hindustan Aeronautics (HAL) outperforms by 12 per cent immediately and sustains that outperformance through July-end — an outcome viewed as low probability.

Published on July 3, 2025