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Nestle India will replace Indiabulls Housing Finance in the benchmark Nifty 50 index from September 27, the National Stock Exchange (NSE) said on Wednesday. “The replacement will also be applicable to the Nifty 50 Equal Weight Index,” the bourse said in a release.
Indiabulls Housing Finance, along with Berger Paints, Power Finance Corporation and Punjab National Bank will now be included in the Nifty Next 50 index, replacing ABB India, Bharat Heavy Electricals, MRF Ltd and Steel Authority of India, the release added. Nestle India Ltd will be included in Nifty 50 and IndiaBulls Housing Finance would be excluded from it, the NSE said.
Besides, 21 stocks, including Adani Gas Ltd and Arvind Fashions, are being placed in the Nifty 500 index, with exclusion of the same number of stocks from the index.
Similarly, changes have been made in the Nifty Midcap 150, the Nifty Smallcap 250, the Nifty Midcap 100, Nifty Financial Services and Nifty IT, among others.
These changes would be effective from September 27, the bourse said.
However, “no changes are being made to the Nifty Auto, Nifty Bank, Nifty PSU Bank, Nifty Pharma, Nifty Realty, Nifty PSE, Nifty Aditya Birla Group, Nifty Tata Group, Nifty Mahindra Group and Nifty Tata Group 25 per cent Cap indices,” the release said.
Shares of Indiabulls Housing Finance ended at Rs 457 apiece, down 3.08 per cent, while those of Nestle India closed with a gain of 0.82 per cent at Rs 12,575 per scrip on the NSE.
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