Nifty 50
The Nifty 50 is the primary benchmark index for the National Stock Exchange of India (NSE). It comprises of the top 50 stocks by market capitalization that are listed on the NSE.
Below we list down Halal stocks included in Nifty 50.
List of Halal Stocks in Nifty 50
Note: The Shariah-compliance statuses of the stocks provided below are based on Musaffa Shariah-compliance screening of 2024 fiscal year results using AAOIFI standards. The compliance status of stocks may undergo changes based on subsequent releases of financial results.
| Company Name | Ticker | Market Cap | Sector | Shariah-Compliance Status |
|---|---|---|---|---|
| Hindustan Unilever Ltd | Hindustan Unilever Ltd. | ₹5.64T | Consumer Staples | Halal |
| Sun Pharmaceutical Industries Ltd | Sun Pharmaceutical Industries Ltd. | ₹3.85T | Health Care | Halal |
| Maruti Suzuki India Ltd | Maruti Suzuki India Ltd. | ₹3.64T | Consumer Discretionary | Halal |
| Adani Ports and Special Economic Zone Ltd | Adani Ports and Special Economic Zone Ltd. | ₹2.86T | Industrials | Halal |
| UltraTech Cement Ltd | UltraTech Cement Ltd. | ₹2.78T | Materials | Halal |
| Asian Paints Ltd | Asian Paints Ltd. | ₹2.71T | Materials | Halal |
| Nestle India Ltd | Nestle India Ltd. | ₹2.44T | Consumer Staples | Halal |
| Bajaj Auto Ltd | Bajaj Auto Ltd. Stock | ₹2.40T | Consumer Discretionary | Halal |
| Cipla Ltd | Cipla Ltd. | ₹1.20T | Health Care | Halal |
| Britannia Industries Ltd | Britannia Industries Ltd. | ₹1.17T | Consumer Staples | Halal |
| Tata Consumer Products Ltd | Tata Consumer Products Ltd. | ₹1.16T | Consumer Staples | Halal |
| Dr Reddy's Laboratories Ltd | Dr Reddy's Laboratories Ltd. | ₹1.05T | Health Care | Halal |
| Divi's Laboratories Ltd | Divi's Laboratories Ltd. | ₹941.18B | Health Care | Halal |
| Hero MotoCorp Ltd | Hero MotoCorp Ltd. | ₹926.00B | Consumer Discretionary | Halal |
| Apollo Hospitals Enterprise Ltd | Apollo Hospitals Enterprise Ltd. | ₹870.64B | Health Care | Halal |
Shariah Screening
Shariah-compliance status of stocks is identified based on business and financial screening of companies. According to the AAOIFI standards, the shares of a company whose core activities are Shariah-compliant are permitted under the following conditions:
- The company should not state in its memorandum of association that one of its objectives is to deal in interest, or in other prohibited activities, products or materials.
- Income from non-Halal sources should not exceed 5% of the total income earned by the company.
- Interest-bearing assets must not exceed 30% of the company’s market capitalization.
- Interest-bearing debt must not exceed 30% of the company’s market capitalization.
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Nusrat Ahmed