Nifty Indices Rejig February 2026: Which Stocks Were Added and Dropped From Nifty 100, 500, Next 50, and More


By Dalal Street Investment Journal (DSIJ)

Summary:


NSE’s Nifty Indices Rejig February 2026 brings key changes across benchmark, broad-market, and thematic baskets. While the Nifty 50 remains unchanged, reshuffles were seen in the Nifty 100, Nifty 500, Nifty Next 50, and sectoral themes. Notably, updates were also made in thematic indices such as Nifty India Defence, Nifty India Internet, Nifty EV & New Age Automotive, and Nifty India New Age Consumption. The review is effective March 30, 2026

Nifty Indices Rejig February 2026: Which Stocks Were Added and Dropped From Nifty 100, 500, Next 50, and More

In its latest periodic review, NSE Indices Limited has announced a series of changes across key Nifty indices, effective from March 30, 2026 (close of March 27, 2026)

The reshuffle spans benchmark, large-cap, mid-cap, small-cap, and total market indices. While the Nifty 50 remains unchanged, several broad-market and thematic indices have witnessed meaningful churn.

Let us break down the key changes index by index.

Nifty 50: No Changes

There are no changes to the Nifty 50 and Nifty 50 Equal Weight indices in this review

Nifty 100 Rejig: LICI and Five Others Exit; Tata Motors Among New Entrants

The latest review of the Nifty 100 has resulted in the exclusion of Life Insurance Corporation of India (LIC), Bajaj Housing Finance Ltd, Havells India Ltd, ICICI Lombard General Insurance Company Ltd, Info Edge (India) Ltd, and JSW Energy Ltd.

Replacing them in the index are Cummins India Ltd., HDFC Asset Management Company Ltd. (HDFC AMC), Muthoot Finance Ltd., Tata Capital Ltd., Tata Motors Ltd., and Union Bank of India

Also Read: NSE Turnover Hits 16-Month High ₹23.9 Lakh Crore in Jan

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Exclusions from Nifty 100

Company

Symbol

Bajaj Housing Finance Ltd.

BAJAJHFL

Havells India Ltd.

HAVELLS

ICICI Lombard General Insurance Company Ltd.

ICICIGI

Info Edge (India) Ltd.

NAUKRI

JSW Energy Ltd.

JSWENERGY

Life Insurance Corporation of India

LICI

Bajaj Housing Finance, Havells India, ICICI Lombard, Info Edge, JSW Energy, and LIC have been excluded from the Nifty 100 index. 

Inclusions in Nifty 100

Company

Symbol

Cummins India Ltd.

CUMMINSIND

HDFC Asset Management Company Ltd.

HDFCAMC

Muthoot Finance Ltd.

MUTHOOTFIN

Tata Capital Ltd.

TATACAP

Tata Motors Ltd.

TMCV

Union Bank of India

UNIONBANK

These changes will also apply to the Nifty 100 Equal Weight index.

Nifty 500 Rejig: Akums Drugs, Alembic Pharma, and 29 Others Exit; GROWW, Pine Labs, Meesho, and 28 Others Added

In the latest Nifty 500 reshuffle, 31 stocks have been excluded namely Akums Drugs and Pharmaceuticals Ltd., Alembic Pharmaceuticals Ltd., Alkyl Amines Chemicals Ltd., Alok Industries Ltd., AstraZeneca Pharma India Ltd., BASF India Ltd., Campus Activewear Ltd., Century Plyboards (India) Ltd., Cera Sanitaryware Ltd., Dr Agarwal’s Health Care Ltd., Finolex Industries Ltd., Godrej Agrovet Ltd., Gujarat Gas Ltd., Happiest Minds Technologies Ltd., INOX India Ltd., Jyothy Labs Ltd., Kirloskar Brothers Ltd., KSB Ltd., Maharashtra Scooters Ltd., Maharashtra Seamless Ltd., Metropolis Healthcare Ltd., Praj Industries Ltd., Procter & Gamble Hygiene & Health Care Ltd., Rashtriya Chemicals & Fertilizers Ltd., Reliance Infrastructure Ltd., Sundram Fasteners Ltd., Triveni Engineering & Industries Ltd., Valor Estate Ltd., Vedant Fashions Ltd., Ventive Hospitality Ltd., and V-Guard Industries Ltd.

Select Exclusions from Nifty 500

Company

Symbol

Akums Drugs and Pharmaceuticals Ltd.

AKUMS

Alembic Pharmaceuticals Ltd.

APLLTD

Alkyl Amines Chemicals Ltd.

ALKYLAMINE

Alok Industries Ltd.

ALOKINDS

BASF India Ltd.

BASF

Campus Activewear Ltd.

CAMPUS

Century Plyboards (India) Ltd.

CENTURYPLY

Cera Sanitaryware Ltd.

CERA

Gujarat Gas Ltd.

GUJGASLTD

Happiest Minds Technologies Ltd.

HAPPSTMNDS

INOX India Ltd.

INOXINDIA

Vedant Fashions Ltd.

MANYAVAR

V-Guard Industries Ltd.

VGUARD

These 31 stocks have been added to Nifty 500: Acutaas Chemicals Ltd., Aditya Infotech Ltd., Allied Blenders and Distillers Ltd., Anthem Biosciences Ltd., Anupam Rasayan India Ltd, Belrise Industries Ltd, Billionbrains Garage Ventures Ltd (Groww), Canara HSBC Life Insurance Company Ltd, Cartrade Tech Ltd, Cemindia Projects Ltd, Emmvee Photovoltaic Power Ltd, Gabriel India Ltd, Gallantt Ispat Ltd, HDB Financial Services Ltd, ICICI Prudential Asset Management Company Ltd, Jain Resource Recycling Ltd, Lenskart Solutions Ltd, LG Electronics India Ltd, Meesho Ltd, Paradeep Phosphates Ltd, Physicswallah Ltd, Pine Labs Ltd, Piramal Finance Ltd, Supreme Petrochem Ltd, Tata Capital Ltd, Tata Motors Ltd, Tega Industries Ltd, Tenneco Clean Air India Ltd, Travel Food Services Ltd, Urban Company Ltd, and Zydus Wellness Ltd.

Select Inclusions in Nifty 500

Company

Symbol

Acutaas Chemicals Ltd.

ACUTAAS

Allied Blenders and Distillers Ltd.

ABDL

Anthem Biosciences Ltd.

ANTHEM

Billionbrains Garage Ventures Ltd.

GROWW

HDB Financial Services Ltd.

HDBFS

ICICI Prudential Asset Management Company Ltd.

ICICIAMC

Lenskart Solutions Ltd.

LENSKART

LG Electronics India Ltd.

LGEINDIA

Meesho Ltd.

MEESHO

Pine Labs Ltd.

PINELABS

Tata Capital Ltd.

TATACAP

Tata Motors Ltd.

TMCV

Zydus Wellness Ltd.

ZYDUSWELL

These replacements will also be applicable to related indices such as Nifty 500 Equal Weight and Nifty 500 Multicap 50:25:25

Nifty Next 50: Six Stocks Reshuffled — LIC, Havells, and Info Edge Exit; Tata Motors and HDFC AMC Among Entrants

Following the review, Life Insurance Corporation of India (LICI), Bajaj Housing Finance Ltd, Havells India Ltd, ICICI Lombard General Insurance Company Ltd, Info Edge (India) Ltd, and JSW Energy Ltd have moved out of the Nifty Next 50. 

Taking their place are Cummins India Ltd, HDFC Asset Management Company Ltd, Muthoot Finance Ltd, Tata Capital Ltd, Tata Motors Ltd, and Union Bank of India

Exclusions in Nifty Next 50

Company

Symbol

Bajaj Housing Finance Ltd.

BAJAJHFL

Havells India Ltd.

HAVELLS

ICICI Lombard General Insurance Company Ltd.

ICICIGI

Info Edge (India) Ltd.

NAUKRI

JSW Energy Ltd.

JSWENERGY

Life Insurance Corporation of India

LICI

Note: All the constituents in the table above have been excluded pursuant to exclusion from the Nifty 100 index (a parent index for the Nifty Next 50). 

Inclusions in Nifty Next 50

Company

Symbol

Cummins India Ltd.

CUMMINSIND

HDFC Asset Management Company Ltd.

HDFCAMC

Muthoot Finance Ltd.

MUTHOOTFIN

Tata Capital Ltd.

TATACAP

Tata Motors Ltd.

TMCV

Union Bank of India

UNIONBANK

Note: Constituents of Nifty 50 and Nifty Next 50 indices are derived from the Nifty 100 index (a parent index). All constituents in the table above, which are constituents of reconstituted Nifty 100 (but not part of Nifty 50), have been included in the Nifty Next 50 index 

Nifty Midcap Select Rejig: Coforge and Godrej Properties Exit; AU SFB, LIC, Paytm, and Swiggy Enter

In the latest Nifty Midcap Select review, Coforge (COFORGE), Cummins India (CUMMINSIND), Godrej Properties (GODREJPROP), HDFC Asset Management Company (HDFCAMC), Mankind Pharma (MANKIND), Muthoot Finance (MUTHOOTFIN), and Union Bank of India (UNIONBANK) have been excluded.

NSE Indices has clarified that Cummins India, HDFC AMC, Muthoot Finance, and Union Bank moved out because they were excluded from the Nifty Midcap 150, the parent index for Midcap Select. Meanwhile, Coforge and Mankind Pharma were removed as they did not feature in the “reranked universe” defined in the methodology, and Godrej Properties was dropped because AU Small Finance Bank’s six-month average free-float market capitalisation was at least 1.5 times that of Godrej Properties

On the inclusion side, AU Small Finance Bank (AUBANK), Fortis Healthcare (FORTIS), Indian Bank (INDIANB), Info Edge (India) (NAUKRI), Life Insurance Corporation of India (LICI), One 97 Communications (PAYTM), and Swiggy (SWIGGY) have been added. 

As per the note, Indian Bank and LIC were compulsorily included as they rank within the top five by six-month average full market capitalisation in the eligible universe, while Fortis, Info Edge, Paytm, and Swiggy were compulsorily included as they rank within the top 10 by six-month average free-float market capitalisation in the “reranked universe”.

The methodology also specifies that only stocks available for trading in NSE’s Futures & Options segment are eligible for inclusion in the index.

Rejig in Thematic Indices: Nifty India Defence, Nifty India New Age Consumption, Nifty India Internet, and Others Updated

These reshufflings have been done in the thematic indices as part of NSE’s periodic review, with each index seeing a defined set of inclusions and exclusions.

Nifty Capital Markets

The Nifty Capital Markets index has seen 2 stocks added and 0 excluded. The new entrants are Billionbrains Garage Ventures Ltd. (GROWW) and ICICI Prudential Asset Management Company Ltd. (ICICIAMC), while the index has no deletions in this review.

Nifty EV & New Age Automotive

The Nifty EV & New Age Automotive index has recorded 3 additions and 0 exclusions. The stocks included are Minda Corporation Ltd. (MINDACORP), Tata Motors Ltd. (TMCV), and ZF Commercial Vehicle Control Systems India Ltd. (ZFCVINDIA).

Nifty India Defence

The Nifty India Defence index has seen 2 stocks excluded and 3 stocks included. The exclusions are Cyient DLM Ltd (CYIENTDLM) and Unimech Aerospace and Manufacturing Ltd (UNIMECH), while the inclusions are Aequs Ltd (AEQUS), Apollo Micro Systems Ltd. (APOLLO), and AXISCADES Technologies Ltd (AXISCADES).

Nifty India Internet

The Nifty India Internet index has witnessed 1 exclusion and 7 inclusions. Easy Trip Planners Ltd. (EASEMYTRIP) has been excluded, while Billionbrains Garage Ventures Ltd. (GROWW), Crizac Ltd. (CRIZAC), Meesho Ltd. (MEESHO), Physicswallah Ltd. (PWL), Pine Labs Ltd. (PINELABS), Seshaasai Technologies Ltd. (STYL), and Urban Company Ltd. (URBANCO) have been included.

Nifty India New Age Consumption

The Nifty India New Age Consumption index has seen a 9-stock churn on both sides — 9 excluded and 9 included. The exclusions are Aditya Birla Fashion and Retail Ltd (ABFRL), Aditya Birla Sun Life AMC Ltd (ABSLAMC), BLS International Services Ltd (BLS), Olectra Greentech Ltd (OLECTRA), Sun TV Network Ltd (SUNTV), UTI Asset Management Company Ltd (UTIAMC), Vedant Fashions Ltd (MANYAVAR), V-Guard Industries Ltd (VGUARD), and Welspun Living Ltd (WELSPUNLIV). 

The inclusions are Aditya Birla Real Estate Ltd. (ABREL), Ather Energy Ltd. (ATHERENERG), Billionbrains Garage Ventures Ltd. (GROWW), Cartrade Tech Ltd. (CARTRADE), Force Motors Ltd. (FORCEMOT), ICICI Prudential Asset Management Company Ltd. (ICICIAMC), Lenskart Solutions Ltd. (LENSKART), LG Electronics India Ltd. (LGEINDIA), and Physicswallah Ltd. (PWL).

What This Means for Investors

  1. Passive fund flows: ETFs and index funds will rebalance portfolios ahead of the effective date.

  2. Liquidity shifts: Newly included stocks may witness incremental demand from passive flows.

  3. Reclassification impact: Some companies have moved across market-cap buckets rather than exiting the broader market universe.

  4. Methodology-driven changes: Free-float market cap, liquidity filters, derivative eligibility, and reranked universe rules have shaped the final composition.

Conclusion

The March 2026 Nifty index review underscores how dynamic India’s equity landscape remains. While the Nifty 50 stays steady, broader market indices reflect meaningful churn. For investors tracking index-linked products or benchmarking portfolios against these indices, these changes are operationally important and strategically relevant.

The revisions become effective from March 30, 2026

About the Author

SEBI Registered Research Analyst (INH000006396).


Founded in 1986, Dalal Street Investment Journal (DSIJ) brings decades of experience in India’s equity markets. DSIJ's research combines fundamental analysis with price action, guided by disciplined risk management and capital preservation. They follow a structured, data-driven approach designed to help investors and traders make informed decisions beyond short-term market noise. 

Published Date : 24 Feb 2026

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Content Partner - Dalal Street Investment Journal Wealth Advisory Private Limited



This article is for educational purposes only and should not be considered investment advice. Market investments are subject to risks. DSIJ Wealth Advisory Private Limited is a SEBI-registered Research Analyst (Reg. No: INH000006396) and Investment Adviser (Reg. No: INA000001142). Please consult your financial adviser before investing. 

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