Share of Avenue Supermarts hit all-time high today after brokerage ICICI Direct said the firm may be added to Nifty during the September review. Avenue Supermarts share hit record high of Rs 3,425 rising 1.96% against previous close of Rs 3,359.95 on BSE.
The stock has gained 2.12% in the last 2 days.
The large cap stock is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
The stock has gained 22.32% since the beginning of this year and risen 45.62% in one year.
Total 0.13 lakh shares changed hands amounting to turnover of Rs 4.55 crore on BSE.
Market cap of the firm stood at Rs 2.19 lakh crore.
The hypermarkets chain Avenue Supermarts is likely to be added in Nifty in the September review, ICICI Direct said in a report on July 5.
The index is changed considering six months' data ending January and July. The replacement of stocks in Nifty50, if any, is generally implemented from the first working day of April and October.
In case of a change, a four weeks' prior notice is given to market participants.
The average free float market capitalisation of the firm since February 1, 2021makes it a likely entrant on Nifty.
Info Edge may also be included in Nifty from the October series. The announcement for the same from the NSE is expected to be made sometime in August, ICICI Direct added.
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