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NSE introduces new Nifty Waves index for media, entertainment and gaming stocks
3 min read | Updated on May 02, 2025, 16:43 IST
SUMMARY
The weightage of the 43 stocks in the NIFTY WAVES index is based on their free float market capitalisation, capped at 5%. It has a base date of April 1, 2005, and a base value of 1000, the NSE said in a statement.
The NIFTY WAVES index includes firms like Zee Entertainment Enterprises, TV Today Network, Dish TV India, Balaji Telefilms, NDTV, PVR INOX and more. | Image: Shutterstock
The National Stock Exchange (NSE) launched the NIFTY Waves index on Friday, May 2, at the World Audio Visual & Entertainment Summit (WAVES) 2025.
Launched by the Chief Minister of Maharashtra, Devendra Fadnavis, the Nifty Wave index aims to track the performance of stocks representing the Indian media, entertainment and gaming industries. The index will comprise 43 listed companies.
The gauge includes firms like Zee Entertainment Enterprises, TV Today Network, Dish TV India, Balaji Telefilms, NDTV, PVR INOX and more.
“India’s next significant export is its imagination—our stories, music, innovation, and creative spirit. Through WAVES, we are building a bridge between our rich cultural heritage and our boundless digital future. The launch of the Nifty Waves Index has provided us with a tool to measure success in this field and inspire many more entrepreneurs,” said Devendra Fadnavis, Chief Minister, Maharashtra.
The weightage of each of the 43 stocks in the index is based on its free float market capitalisation, capped at 5%. It has a base date of April 1, 2005, and a base value of 1000, the NSE said in a statement.
Further, the Nifty Waves index will be reconstituted semi-annually and rebalanced on a quarterly basis, it added.
All companies domiciled in India and traded (listed and traded and not listed but permitted to trade) at NSE are eligible for inclusion in the index.
Commenting on the launch, NSE managing director and CEO Ashishkumar Chauhan, said: “We are proud to introduce the Nifty Waves index, designed to provide deep insights into the performance of one of India’s most dynamic sectors. It offers us a benchmark to understand market trends and unlock the full potential of India’s creative economy.”
Top 10 companies in Nifty Waves by weightage:
| Sr. No | Company Name | Weightage (%) |
|---|---|---|
| 1 | Nazara Technologies Ltd. | 5.23 |
| 2 | Zee Media Corporation Ltd. | 5.15 |
| 3 | Zee Entertainment Enterprises Ltd. | 5.14 |
| 4 | Hathway Cable & Datacom Ltd. | 5.07 |
| 5 | TV Today Network Ltd. | 5.07 |
| 6 | Saregama India Ltd. | 5.02 |
| 7 | PVR INOX Ltd. | 4.96 |
| 8 | Network18 Media & Investments Ltd. | 4.76 |
| 9 | Den Networks Ltd. | 4.75 |
| 10 | Tips Music Ltd. | 4.70 |
NSE Indices Limited (formerly known as India Index Services & Products Ltd. - IISL), a subsidiary of NSE, provides a variety of indices and index-related services for the capital markets. The company focuses on the index as a core product. It owns and manages a portfolio of indices under the Nifty brand of NSE, including the flagship index, the Nifty 50.
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