The deletion from MSCI's Global Standard Indices is pursuant to yesterday's announcement and is part of the quarterly index review.
Reacting to the news, shares of Lupin Lab lost 2.18 per cent to Rs 890, while Zee Ent fell by 1.58 per cent to Rs 260.80 on the BSE.
Shares of Power Grid declined by 0.41 per cent to Rs 95.30.
The following changes in constituents for the MSCI Global Standard Indices will take place as of the close of February 28, 2014, MSCI said.
MSCI is a leading provider of benchmark indices globally.