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Four stocks — Aurobindo Pharma, Bharti Infratel, Eicher Motors and Tata Motors Ltd (DVR) — made a weak debut on the National Stock Exchange’s Nifty 50 index today.
Shares of Aurobindo Pharma dipped 3.34 per cent to Rs 720 and Tata Motors Ltd (DVR) was down 2.44 per cent to Rs 281.20 on NSE.
Bharti Infratel lost 1.5 per cent to Rs 376.20 and Eicher Motors slipped 1.4 per cent to Rs 18,910.85.
Cairn India, Punjab National Bank and Vedanta have been dropped from the Nifty 50 index with effect from today.
In their place, Aurobindo Pharma, Bharti Infratel, Eicher Motors and Tata Motors Ltd (DVR) have been included in the index.
Shares of Vedanta lost 2.55 per cent, Cairn India went down 1.36 per cent and Punjab National Bank (0.53 per cent).
Tata Motors shares are already a part of the Nifty, and the inclusion of Tata Motors Ltd (DVR) in the Nifty 50 will take the number of securities in the index to 51.
However, the total number of companies will continue to be 50.
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, India Index Services and Products Ltd (IISL), a subsidiary of NSE Strategic Investment Corporation, had said in a circular on February 22.
The replacement of stocks in various indices, change in constituents of existing indices and publication of new indices will be effective from April 1, 2016, it had said.
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