Realty major DLF and Naveen Jindal- led Jindal Steel & Power will be dropped from the National Stock Exchange's benchmark index...
Realty major DLF and Naveen Jindal- led Jindal Steel & Power will be dropped from the National Stock Exchange’s benchmark index Nifty from March 27.
At the same time, telecom firm Idea Cellular and private sector lender Yes Bank would be included in the 50-share benchmark index.
India Index Services & Products Ltd, which maintains Nifty index, in a statement today said DLF and Jindal Steel & Power Ltd (JSPL) would be excluded from the 50-share benchmark index with effect from March 27, 2015.
DLF and JSPL would also be excluded from CNX 100 Index and would be replaced by Indiabulls Housing Finance and United Spirits Ltd.
Besides, a host of changes have also been made in various other indices of NSE such as CNX Nifty Junior Index, CNX 100 Index, CNX 200 Index, CNX 500 Index, LIX15 Index, LIX15 Midcap Index, Nifty Midcap 50 Index, CNX Midcap Index and CNX Smallcap Index.
Moreover, sectoral indices for auto, commodities, IT, FMCG, consumption, infrastructure, media, metal and services would also see some changes.
“The Index Maintenance Sub-Committee has decided to make the following changes in various indices as part of its periodic review,” the statement said.
“These changes shall become effective from March 27, 2015,” it added.
The stocks being excluded from Nifty Junior index are Idea Cellular and Yes Bank, while Indiabulls Housing Finance and United Spirits would be included in the index.
Those being dropped from CNX 200 Index include Glaxosmithkline Pharmaceuticals, Indian Bank, Jaiprakash Power Ventures, MphasiS Ltd, NIIT Technologies and The Ramco Cements.
Berger Paints India, GlaxoSmithkline Consumer Healthcare, Gruh Finance, JK Lakshmi Cement, NCC, Redington (India) Ltd and United Spirits would be included in the CNX 200 Index.
Under the CNX Midcap Index, companies like Aurobindo Pharma, Bharti Infratel, Bhushan Steel, Housing Development and Infrastructure and TV18 Broadcast Ltd have been excluded.
Those included in the index are Dewan Housing Finance Corporation, DLF, Jindal Steel & Power, Marico and Wockhardt Ltd.