{"id":6227,"date":"2021-12-27T18:29:00","date_gmt":"2021-12-27T12:59:00","guid":{"rendered":"https:\/\/www.tickertape.in\/blog\/?p=6227"},"modified":"2021-12-27T18:32:11","modified_gmt":"2021-12-27T13:02:11","slug":"nifty-bank-index-rbl-could-be-removed","status":"publish","type":"post","link":"https:\/\/www.tickertape.in\/blog\/nifty-bank-index-rbl-could-be-removed\/","title":{"rendered":"Nifty Bank Index: RBL Bank Could Be Ousted"},"content":{"rendered":"\n<p>State-run <a href=\"https:\/\/www.tickertape.in\/stocks\/bank-of-baroda-BOB?checklist=basic&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\">Bank of Baroda<\/a> could replace RBL Bank in <a href=\"https:\/\/www.tickertape.in\/indices\/nifty-bank-index-.NSEBANK?utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\">Nifty Bank Index<\/a> as per Edelweiss Alternative Research\u2014a pre-emptive analysis of the Semi-Annual <a href=\"https:\/\/www.tickertape.in\/blog\/stock-market-index\/\">Index<\/a> Rejig of Nifty Indices\u2014report. The official announcement of the shuffle will be made in the second half of February 2022.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_66_1 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.tickertape.in\/blog\/nifty-bank-index-rbl-could-be-removed\/#What-happened-with-RBL-Bank\" title=\"What happened with RBL Bank?\">What happened with RBL Bank?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.tickertape.in\/blog\/nifty-bank-index-rbl-could-be-removed\/#Reshuffling-in-RBL-Banks-board\" title=\"Reshuffling in RBL Bank\u2019s board\">Reshuffling in RBL Bank\u2019s board<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.tickertape.in\/blog\/nifty-bank-index-rbl-could-be-removed\/#RBI-clarification-%E2%80%93-RBL-Banks-finances-are-in-good-health\" title=\"RBI clarification &#8211; RBL Bank\u2019s finances are in good health\">RBI clarification &#8211; RBL Bank\u2019s finances are in good health<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.tickertape.in\/blog\/nifty-bank-index-rbl-could-be-removed\/#Nifty-Bank-constituents\" title=\"Nifty Bank constituents\">Nifty Bank constituents<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.tickertape.in\/blog\/nifty-bank-index-rbl-could-be-removed\/#Nifty-50-%E2%80%93-IOCL-out\" title=\"Nifty 50 &#8211; IOCL out?\">Nifty 50 &#8211; IOCL out?<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What-happened-with-RBL-Bank\"><\/span><strong>What happened with RBL Bank?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Earlier today, RBL Bank had plunged 20% to its 52-week low of Rs. 138 apiece on the <a href=\"https:\/\/www.tickertape.in\/stocks\/bse-BSEL?checklist=basic&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\">BSE<\/a>. The stock fell following the bank\u2019s exchange filing, which revealed that it\u2019s MD and CEO was on leave, and the RBI had appointed Yogesh K Dayal as an Additional Director of the entity.\u00a0\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Reshuffling-in-RBL-Banks-board\"><\/span><strong>Reshuffling in RBL Bank\u2019s board<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Yogesh Dayal will serve as an Additional Director on the RBL\u2019s board for 2 yrs till 23 December 2023 or till further orders, whichever is earlier. The board also accepted Vishwavir Ahuja\u2019s request for medical leave and appointed existing Executive Director Rajeev Ahuja as the Interim Managing Director and CEO of the bank. The appointment is, however, subject to regulatory and other approvals.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"RBI-clarification-%E2%80%93-RBL-Banks-finances-are-in-good-health\"><\/span><strong>RBI clarification &#8211; RBL Bank\u2019s finances are in good health<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Panic spread among <a href=\"https:\/\/www.tickertape.in\/blog\/shareholders\/\">shareholders<\/a> and dispositors following the above news and certain speculations relating to RBL Bank\u2019s financial health. However, the RBI intervened and clarified that the bank is well capitalised and that its financial position remains stable.<\/p>\n\n\n\n<p>Today, RBL Bank Limited closed at over 18% low at Rs. 141.60 per share on the <a href=\"https:\/\/www.tickertape.in\/blog\/national-stock-exchange\/\">NSE<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Nifty-Bank-constituents\"><\/span><strong>Nifty Bank constituents<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Currently, the Nifty Bank Index consists of:<\/p>\n\n\n\n<ul><li><a href=\"https:\/\/www.tickertape.in\/stocks\/icici-bank-ICBK?checklist=basic&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\">ICICI Bank<\/a><\/li><li><a href=\"https:\/\/www.tickertape.in\/stocks\/idfc-first-bank-IDFB?checklist=basic&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\">IDFC First Bank<\/a><\/li><li><a href=\"https:\/\/www.tickertape.in\/stocks\/kotak-mahindra-bank-KTKM?checklist=basic&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\">Kotak Bank<\/a><\/li><li><a href=\"https:\/\/www.tickertape.in\/stocks\/punjab-national-bank-PNBK?checklist=basic&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\">Punjab National Bank<\/a><\/li><li><a href=\"https:\/\/www.tickertape.in\/stocks\/axis-bank-AXBK?checklist=basic&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\">Axis Bank<\/a><\/li><li><a href=\"https:\/\/www.tickertape.in\/stocks\/bandhan-bank-BANH?utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\">Bandhan Bank<\/a><\/li><li><a href=\"https:\/\/www.tickertape.in\/stocks\/hdfc-bank-HDBK?checklist=basic&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\">HDFC Bank<\/a><\/li><li><a href=\"https:\/\/www.tickertape.in\/stocks\/state-bank-of-india-SBI?checklist=basic&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\">State Bank of India<\/a><\/li><li><a href=\"https:\/\/www.tickertape.in\/stocks\/federal-bank-FED?checklist=basic&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\">Federal Bank<\/a><\/li><li><a href=\"https:\/\/www.tickertape.in\/stocks\/au-small-finance-bank-AUFI?checklist=basic&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\">AU Small Finance Bank<\/a><\/li><li><a href=\"https:\/\/www.tickertape.in\/stocks\/indusind-bank-INBK?checklist=basic&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\">IndusInd Bank<\/a><\/li><li><a href=\"https:\/\/www.tickertape.in\/stocks\/rbl-bank-RATB?checklist=basic&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\">RBL Bank<\/a><\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Nifty-50-%E2%80%93-IOCL-out\"><\/span><strong>Nifty 50 &#8211; IOCL out?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In <a href=\"https:\/\/www.tickertape.in\/indices\/nifty-index-.NSEI?utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\">Nifty 50<\/a>, <a href=\"https:\/\/www.tickertape.in\/stocks\/apollo-hospitals-enterprise-APLH?checklist=basic&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\">Apollo Hospitals<\/a> or <a href=\"https:\/\/www.tickertape.in\/stocks\/info-edge-india-INED?checklist=basic&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\">Info Edge<\/a> is likely to replace <a href=\"https:\/\/www.tickertape.in\/stocks\/indian-oil-corporation-IOC?checklist=basic&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\">Indian Oil<\/a>.<\/p>\n\n\n\n<p>The research said, &#8220;As per our calculations, using the 4 months of existing Free <a href=\"https:\/\/www.tickertape.in\/blog\/what-explains-ruchi-soyas-rally\/\">Float<\/a> Market Cap and hypothetical assumption of future seven weeks Market cap (avg market cap of last 10 days is assumed till Jan 22 end), we believe that APHS holds slightly higher chance than Info Edge to replace IOCL in the Nifty50. Currently, both the stocks are 1.5x above Indian Oil\u2019s Free Float Market cap&#8221;.<\/p>\n\n\n\n<p>However, the report also said that IOCL could remain a constituent of the Nifty 50 benchmark index if it sees a significant price rise of 12-15% in the next three weeks and successfully maintains it until the cut-off date. Likewise, Apollo Hospitals and Info Edge should also retain their current price with limited slid till the cut-off date.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As per Edelweiss Alternative Research, Bank of Baroda could replace RBL Bank in the Nifty Bank index.<\/p>\n","protected":false},"author":27,"featured_media":6228,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[9,1744],"tags":[1135,1132,342,1134,1136,265,1133,1131,15],"acf":[],"modified_by":"Aradhana Gotur","jetpack_featured_media_url":"https:\/\/www.tickertape.in\/blog\/wp-content\/uploads\/2021\/12\/08-3.png?wsr","_links":{"self":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts\/6227"}],"collection":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/comments?post=6227"}],"version-history":[{"count":5,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts\/6227\/revisions"}],"predecessor-version":[{"id":6233,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts\/6227\/revisions\/6233"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/media\/6228"}],"wp:attachment":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/media?parent=6227"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/categories?post=6227"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/tags?post=6227"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}