This Large Cap Stock On Inclusion In Nifty Next 50 And Nifty 100 Gains: Check

As per the latest remark by Mansukh Mandaviya, Union Minister of Health & Family Welfare and Chemicals & Fertilizers, Govt of India today said that the Indian chemicals and petrochemicals industry will help the country to reach the $5 trillion goal. Likewise, the large cap chemicals stock which has been a multibagger during the 1-year period is set to enter the Nifty Next 50 index.

This Large Cap Stock On Inclusion In Nifty Next 50 And Nifty 100 Gains: Check

This is according to NSE indices press release dated February 24, 2022 as per which 6 stocks that shall be added as a replacement in the Nifty Next 50 index are FSN E-Commerce, IOC, Mindtree, One 97 Communications, SRF and Zomato. Also, the stock will be included in the Nifty 100 index. The move is part of its periodic review and the inclusion will become effective from 31st March 2022.

Amid broad based gains on rebound from the previous day's fall out, the stock gained by 6.76% at the closing, while at day's high scaled to a price of Rs. 2435.9 per share.

Experts take on SRF

Experts see the scrip to give technical breakout and scale to Rs. 2600 levels in the near term, implying 7% gains.
Speaking on the reason for rise in SRF share price; Ravi Singhal, Vice Chairman at GCL Securities said, "Announcement of SRF shares' inclusion in Nifty Next 50 index and Nifty 100 index is short term sentiment that is fueling the rally in chemical stock. Apart from this, traditionally chemical stocks give improved quarterly numbers in Q4 in comparison to Q3. So, market is expecting SRF Ltd to follow this tradition. In fact, if we go by tradition, Q1 and Q2 numbers of the chemical companies in next fiscal will be more better than Q4 of the current fiscal. So, SRF shares are expected to beat its recent performance in upcoming trade sessions and one can add this multibagger stock in one's portfolio."
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