Tata Motors, Airtel, YES Bank, BEL shares to see passive inflows on Nifty indices March rejig
Nuvama expects Bharti Airtel Ltd, Tata Motors, Union Bank, HDFC AMC, Muthoot Finance Ltd, Tata Capital, YES Bank Ltd and Bharti Electronics Ltd (BEL) to see highest passive inflows.
- Mar 25, 2026,
- Updated Mar 25, 2026 8:48 AM IST
The semi-annual rejig for Nifty indices is set to take place on March 27, making it an action-packed day. While Nifty has no inclusions or exclusions, a couple of stocks will be in action due to weight changes. Nifty Next 50, Nifty Midcap 150 and Nifty Smallcap 250 will be among indices that will see change in constituents. On a cumulative basis, taking into account 14 indices, Nuvama Institutional Equities expects Bharti Airtel Ltd, Tata Motors Ltd (Tata Motors CV), Union Bank, HDFC AMC, Muthoot Finance Ltd, Tata Capital, YES Bank Ltd and Bharti Electronics Ltd (BEL) to see highest passive inflows. ICICI Bank, ICICI Lombard General Insurance Co Ltd, Info Edge (India) Ltd, HDFC Bank Ltd and JSW Energy Ltd are expected to see highest passive outflows.
As per the brokerage, Bharti Airtel may see passive buying to the tune of 24.9 crore shares worth $249 million. Tata Motors CV is seen attracting passive buying of 3.91 crore shares, valuing $177 million. Cummins India may see passive inflows of $90 million. This would be followed by Union Bank ($75 million inflows), HDFC AMC ($69 million), Muthoot Finance ($49 million), Tata Capital ($29 million), YES Bank ($25 million) and BEL ($22 million). Other likely beneficiaries included banks such as Federal Bank, IndusInd Bank, AU Small Finance Bank, Canara Bank and Kotak Mahindra Bank.
Cumulatively, ICICI Bank may see highest passive outflows of $133 million. A total of 97 lakh shares may see passive selling on the counter, equivalent to half a day of daily average volumes. ICICI Lomnard may see $66 million outflows, followed by Info Edge ($61 million), HDFC Bank ($51 million), Havells India ($49 million) and JSW Energy ($49 million). NTPC, State Bank of India, LIC, Reliance Industries Ltd, Vedanta and Larsen & Toubro may also see negligible outflows.
The Index Maintenance Sub-Committee (Equity) of NSE Indices Limited had made replacement of stocks in various indices as part of its periodic review as listed hereunder on February 23 These changes will become effective from March 30, 2026, from close of March 27, 2026. A total of 31 shares were excluded/included from Nifty 500, six changes were made to Nifty 100, 16 changes to Midcap 150, and 33 to Nifty Smallcap 250.
The semi-annual rejig for Nifty indices is set to take place on March 27, making it an action-packed day. While Nifty has no inclusions or exclusions, a couple of stocks will be in action due to weight changes. Nifty Next 50, Nifty Midcap 150 and Nifty Smallcap 250 will be among indices that will see change in constituents. On a cumulative basis, taking into account 14 indices, Nuvama Institutional Equities expects Bharti Airtel Ltd, Tata Motors Ltd (Tata Motors CV), Union Bank, HDFC AMC, Muthoot Finance Ltd, Tata Capital, YES Bank Ltd and Bharti Electronics Ltd (BEL) to see highest passive inflows. ICICI Bank, ICICI Lombard General Insurance Co Ltd, Info Edge (India) Ltd, HDFC Bank Ltd and JSW Energy Ltd are expected to see highest passive outflows.
As per the brokerage, Bharti Airtel may see passive buying to the tune of 24.9 crore shares worth $249 million. Tata Motors CV is seen attracting passive buying of 3.91 crore shares, valuing $177 million. Cummins India may see passive inflows of $90 million. This would be followed by Union Bank ($75 million inflows), HDFC AMC ($69 million), Muthoot Finance ($49 million), Tata Capital ($29 million), YES Bank ($25 million) and BEL ($22 million). Other likely beneficiaries included banks such as Federal Bank, IndusInd Bank, AU Small Finance Bank, Canara Bank and Kotak Mahindra Bank.
Cumulatively, ICICI Bank may see highest passive outflows of $133 million. A total of 97 lakh shares may see passive selling on the counter, equivalent to half a day of daily average volumes. ICICI Lomnard may see $66 million outflows, followed by Info Edge ($61 million), HDFC Bank ($51 million), Havells India ($49 million) and JSW Energy ($49 million). NTPC, State Bank of India, LIC, Reliance Industries Ltd, Vedanta and Larsen & Toubro may also see negligible outflows.
The Index Maintenance Sub-Committee (Equity) of NSE Indices Limited had made replacement of stocks in various indices as part of its periodic review as listed hereunder on February 23 These changes will become effective from March 30, 2026, from close of March 27, 2026. A total of 31 shares were excluded/included from Nifty 500, six changes were made to Nifty 100, 16 changes to Midcap 150, and 33 to Nifty Smallcap 250.