Tata Group’s retail arm, Trent, and state-run Bharat Electronics will be added to the National Stock Exchange’s (NSE) benchmark Nifty 50 index starting September 30. They will replace drug maker Divi’s Laboratories and technology services firm LTI Mindtree, which will be removed from the Nifty 50 index as part of the periodic review by the Index Maintenance Sub-Committee (Equity) of NSE Indices.
Nifty Next 50
Other adjustments include the inclusion of Bharat Heavy Electricals, Divi’s Laboratories, JSW Energy, LTIMindtree, Macrotech Developers, NHPC, and Union Bank of India in the Nifty Next 50 index.
Meanwhile, Berger Paints India, Bharat Electronics, Colgate Palmolive (India), Marico, SBI Cards and Payment Services, SRF, and Trent will be excluded from that index.
Changes have also been made to several indices, including Nifty 500, Nifty 200, Nifty 100, Nifty Smallcap 250, Nifty Midcap 150, and Nifty Midcap 50.
Nifty 500
Vodafone Idea, Mahindra Holidays and Resorts India, Medplus Health, Sterlite Technologies will be excluded from Nifty 500; while Pfizer, Inox India, GR Infraprojects will be included.
Nifty Bank
For banks, Bandhan Bank will be excluded from Nifty Bank, while Canara Bank will be included.
Canara Bank (average free-float market capitalization Rs. 38,973 crores) has been included in Nifty Bank index as
the 6-month average free-float market capitalization of company within the eligible universe is at least 1.5 times the six-month average free-float market capitalization of the smallest constituent i.e. Bandhan Bank (average free float market capitalization Rs. 15,945 crores), the NSE said.
Nifty Financial Services Ex-bank
Paytm’s parent company, One 97 Communications, will be excluded from Nifty Financial Services ex-bank, while Indian Railway Finance Corporation will be included.
No changes are being made in Nifty Auto, Nifty Consumer Durables, Nifty Financial Services, Nifty Financial Services 25/50, Nifty IT, Nifty FMCG, Nifty Media, Nifty Healthcare, Nifty Metal, Nifty Oil & Gas, Nifty Private Bank, Nifty PSU Bank and Nifty MidSmall Healthcare indices, NSE said.