The NSE said on Wednesday after market hours that, Nestle India
will replace Indiabulls Housing Finance
in Nifty50 Index. The replacement will take place from September 27, according to the Index Maintenance Sub-Committee of NSE Indices said.
The Index Maintenance Sub-Committee (IMSC) of NSE Indices Limited has decided to make the following replacement of stocks in various indices as part of its periodic review. These changes shall become effective from September 27, 2019 (close of September 26, 2019).
The above replacement will also be applicable to NIFTY50 Equal Weight Index.
Further, Indiabulls Housing Finance along with Berger Paints
, Power Finance Corporation and Punjab National Bank
would enter Nifty Next 50 index, where it will replace ABB India, Bharat Heavy Electricals, MRF and Steel Authority of India. (ABB is being replaced on account of the proposed scheme of arrangement for demerger).
Nifty 500 will see 21 stocks being replaced. Among the exclusions are Deepak Fertilisers, Gateway Distriparks, Inox Wind
, JP Associates, Reliance Communications, Reliance Home Finance, Rupa & Co, Shipping Corporation, SREI Infrastructure Finance, Tata Coffee and TN Newsprint. (ABB, Glaxo Consumer and Gruh Finance will also be out of Nifty 500 due to impending corporate actions such as merger and demerger).
and Just Dial will replace Infibeam Avenues and Oracle Financial Services Software in Nifty IT index.
No changes are being made to 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% Cap indices.