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Adani Enterprises will replace Shree Cement in the Nifty 50 index, according to a National Stock Exchange press release. The change will come into effect from September 30, India's leading bourse said.
Similarly seven companies’ stocks - Adani Enterprises, Jubilant Foodworks, Lupin, MindTree, PNB, SAIL and Zydus Lifesciences - will exit Nifty Next 50 and they will be replaced by Shree Cement, Adani Total Gas, Bharat Electronics, HAL, IRCTC, MphasiS and Samvardhana Motherson International.
MindTree out due to merger
MindTree has been excluded from the index on account of a proposed scheme of arrangement for amalgamation. MindTree would be merged with L&T Infotec, and the process is expected to be completed by the year-end.
Eighteen companies, including Adani Wilmar, Aether Industries, Bharat Rasayan, Deepak Fert, Patanjali Foods, Raymond, Samvardhana Motherson, Tejas, Swan Energy, Transport Corporation and Vedant Fashiions will enter the Nifty 500 index. They will replace Advanced Enzyme Tech, Eric Lifesciences, Glenmark Lifesciences, Hathway Cable, Railtel, Solara Active, SpiceJet, Tata Steel Long, UCO Bank and Vakrange.
The Index Maintenance Sub-Committee (Equity) of NSE Indices Ltd has effected changes in 13 other broad market indices, including the Nifty Midcap 100, Nifty Midcap 50, Nifty Microcap 250, Nifty Midsmallcap 400, Nifty LargeMidcap 250, Nifty Smallcap 250 and Nifty Smallcap 50.
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