NIFTY50 rejig on Tuesday: IndiGo, Max Healthcare to enter index; all you need to know

“InterGlobe Aviation Ltd. (average free-float market capitalisation ₹113,908 crores) and Max Healthcare Institute Ltd. (average free-float market capitalisation ₹84,555 crores) have been included in the Nifty 50 index based on higher 6-month average free-float market capitalisation within the eligible universe as a replacement to Hero MotoCorp Ltd. and IndusInd Bank Ltd,” the National Stock Exchange had said in a statement on August 22.

The stock exchange had also said that Hindustan Aeronautics (HAL) and Divi's Laboratories—the next two eligible companies—were not considered for inclusion in the NIFTY50 index.

“The average free-float market capitalisation of these two companies was less than 1.5 times that of two companies with the lowest average free-float market capitalisation, namely Adani Enterprises Ltd. (₹62,665 crores) and Apollo Hospitals Enterprise Ltd. (₹69,203 crores) (after exclusion of Hero MotoCorp Ltd. and IndusInd Bank Ltd. from Nifty 50 as listed above),” the stock exchange further added.

Reshuffles in the NIFTY50 index often trigger exchange-traded fund (ETF) changes, driving millions in inflows and outflows for the impacted stocks.

Further, InterGlobe Aviation and Max Healthcare Institute have been removed from the Nifty Next 50 and Nifty Midcap 150, respectively, on account of their inclusion in the NIFTY50 index.

In March 2025, Jio Financial Services and Eternal Limited were added to the 50-share index, replacing Bharat Petroleum Corporation (BPCL) and Britannia Industries.

Shares of InterGlobe Aviation settled at ₹ 5,571 apiece on the National Stock Exchange, rising 0.18%. Max Healthcare shares, however, slipped 1.64% on NSE to close at ₹1,105 per share.

Since the beginning of the year, InterGlobe Aviation has zoomed more than 21%, while Max Healthcare shares have tumbled 3% year-to-date.

According to news reports, Nuvama Alternative & Quantitative Research estimates the Nifty 50 rebalancing will bring $1.07 billion in inflows and $747 million in passive outflows.

IndiGo's revenue from operations, however, rose 5% to ₹20,496 crore from ₹19,571 crore in the year-ago period.

The company reported subdued operational performance as its earnings before finance income and cost, tax, depreciation, amortisation and aircraft and engine rental (EBITDAR) fell 1.2% to ₹5,739 crore and its EBITDAR margin shrank by 170 basis points to 28% at the end of the June quarter.

At the end of the first quarter, IndiGo had a fleet of 416 aircraft, up 9% from 382 aircraft in the same period last year.

The healthcare major reported a profit after tax (PAT) of ₹295 crore in the April-June period last year. Gross revenue rose to ₹2,574 crore in the quarter from ₹2,028 crore in the year-ago period, Max Healthcare said in a statement.

Net debt at June-end stood at ₹1,755 crore as compared with ₹1,576 crore on March 31, 2025.