Nestle rallies on Nifty inclusion hopes; Indiabulls Housing could make way

ICICI Direct says Nestle India could have a weightage of near 1 per cent in Nifty index

Shares of Nestle India, domestic arm of Swiss consumer goods giant, rose as much as 5 per cent on Wednesday on hopes of Nifty inclusion. Despite having market capitalisation of more than Rs 1 trillion, Nestle India is not part of the widely-followed Nifty 50 index as the company is not listed on the National Stock Exchange (NSE). However, a change in index inclusion criteria by NSE has opened the gates for Nestle India to make it to the index of India’s 50 blue chip companies that too as early as October.

“Nestlé India is likely to be included in