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The Nifty 50 will be back to a 50-stock index from the current 51 as India Index Services and Products Ltd, an arm of the NSE, on Monday announced the rejig.
Bajaj Fin, HPCL, UPL inACC, Bank of Baroda, Tata Power and Tata Motors DVR will move out from the NSE’s benchmark Nifty 50 index from September 29 and would be replaced by Bajaj Finance, HPCL and UPL.
Equity shares with differential voting rights are eligible to be included in the indices as an additional security subject to the fulfilment of eligibility criteria, IISL had said on February 23, 2016. “On account of inclusion of Tata Motors DVR, the Nifty 50 index shall have 51 securities,” it added then.
Tata Motors DVR has been part of Nifty 50 since April 1, 2016.
Rejigs other indices tooIISL has also effected changes in various indices including Nifty Next 50, Nifty 500, Nifty 100, Nifty Midcap 150, Nifty Smallcap 250, Nifty Midcap 50, Nifty 200 and Nifty Smallcap 50; sectoral indices such as Nifty IT, Nifty Realty and Nifty PSU Banks will also be changed. Bajaj Finance, Divi’s Laboratories, HPCL, United Breweries and UPL would be excluded from Nifty Next 50 index and replaced by ACC, Avenue Supermarts, BoB, MRF and Tata Power.
While 25 firms including Amtek Auto, JMT Auto, Reliance Capital, Reliance Industrial Infrastructure and Rolta India would be out of Nifty 500, they would be replaced by the likes of Avenue Supermarts, BSE, Future Lifestyle, Jindal Saw and Jindal Stainless.
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