Adhesive maker Pidilite Industries is likely to replace Housing Development Finance Corporation (HDFC) in the Nifty 50 index. This will be an ad hoc inclusion on account of the mortgage major’s expulsion from the Nifty index—tracked by funds with assets of over $30 billion—on account of its merger with HDFC Bank, which has entered final stages.
Since both HDFC and HDFC Bank are members of the Nifty and Sensex, the merger will result in the number of index constituents dropping from 50 to 49 in the Nifty and from 30 to 29 in the Sensex.
“Pidilite is a high probability