Domestic brokerage firm Axis Capital estimates that BSE, India's oldest stock exchange, could replace IT major Wipro in the index rebalancing done by NSE every six months. This change is expected to be announced in the second half of August and will come into effect from September 30, 2026. To decide on potential inclusion and exclusion of companies, the Index Maintenance Sub-Committee considers an average of six months of data between February 1 and July 31. Based on data available from February 1 to May 15, current estimates suggest there may be one change in one company in the Nifty50, 5 changes in the Nifty Next 50, and no change in the Bank Nifty.
There can be huge investment in BSE
If this change happens, Axis Capital estimates that $657 million of investment could come into BSE, of which index funds are likely to buy 15.7 million shares. On the other hand, there could be an exit of $225 million from Wipro, which would mean sale of about 114.2 million shares by index funds. The performance of Wipro shares has been weak for some time. There has been a decline of 20 percent in the last six months and since the beginning of the year till now a decline of 27 percent has been recorded.
There will be reshuffle in these companies also
Ahead of NSE's next index rebalancing, Wipro, Polycab India, Hitachi Energy India, Indian Bank and ICICI Prudential Asset Management Company are emerging as main contenders for inclusion in the Nifty Next 50 index. On the other hand, Indian Hotels Company, REC, Shree Cement, Zydus Lifesciences and Lodha Developers are being seen as the most likely candidates to exit the index in the upcoming reshuffle.
BSE made huge profit in the fourth quarter
BSE has reported a consolidated net profit of Rs 797 crore for the March quarter of FY 2026, which is an increase of 61 percent as compared to Rs 494 crore in the same period last year. Revenue for the fourth quarter increased by 85 percent compared to last year and reached Rs 1,564 crore, compared to Rs 847 crore in the same quarter last year.
On a sequential basis, net profit rose 32 per cent to Rs 602 crore in the third quarter, while revenue rose 26 per cent to Rs 1,244 crore in the October-December quarter. For the full fiscal year 2026, BSE recorded a consolidated revenue of Rs 5,148 crore. EBITDA stood at Rs 3,393 crore, and EBITDA margin was 48 percent.
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