Shriram Finance to replace UPL in Nifty 50 from March 28

Shriram Finance will replace UPL Ltd in the Nifty 50 index effective March 28. UPL has been removed from Nifty 50 pursuant to its exclusion from Nifty 100 index, a parent index for Nifty 50. Shriram Finance has been included in Nifty 50 index as it has the highest six month average free-float market capitalisation within eligible universe as a replacement to UPL.

Adani Power, IRFC, Jio Financial Services, Power Finance Corp and REC will replace Adani Wilmar, Muthoot Finance, PI Industries, Procter & Gamble Hygiene & Health Care in Nifty Next 50.

• Also read: Rejigged portfolio will improve return ratios: Shriram Finance chief 

Recently, listed stocks like Honasa Consumer, Happy Forgings, Inox Wind and Tata Technologies have been included in Nifty 500.

Lupin, PI Industries, Vodafone Idea and UPL are included in Nifty Midcap Select.

Vodafone Idea has been included in the index as it ranks within top five stocks based on six month average full market capitalisation within the eligible universe.

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