India Bulls Housing Finance – Out of Nifty50
In a Press Release on behalf of NSE Indices Limited has decided to make changes in the Nifty50 Stocks list. India Bulls Housing Finance Ltd will be excluded from Nifty50 and Nestle India Limited is to be replaced (included).
The said above changes shall become effective from 27th September, 2019. It will also be applicable to Nifty50 Equal Weight Index. In the Nifty Next50, few companies that are to be excluded – ABB India, BHEL, MRF, SAIL and replaced by Berger Paints, India Bulls Housing Finance Ltd and Punjab National Bank (PNB). It is note that on account of proposed scheme of arrangement for Demerger, ABB India Ltd is to be excluded.
For the Nifty 500, there are 21 listed stocks are to excluded and replaced with the same. Reliance Communications (RCOM), Reliance Home Finance, JP Associates, GSK Consumer healthcare, Sintex Plastics, Shankara Building products are the few of the ones to be excluded. Abbot India, Adani Gas, Bayer Cropscience, Den Networks, KPIT Technologies, Garware Technical Fibre, Johnson Controls, RVNL, Poly Cab, Orient Refractories are the few of 21 stocks to be included in Nifty 500.
In Nifty Midcap 150, there are 15 stocks are to be excluded like Reliance Capital, Berger Paints, DHFL, SPARC, Finolex Cables, GSK Consumer healthcare, Reliance Infra and Power Finance. The included stocks in Nifty Midcap 150, few are MRF Limited, CESC, Corporation Bank, Allahabad bank, Steel Authority of India, IOB, Fortis Healthcare and Vinati Organics.
Few Changes of Stocks in other Indices also like Small cap, Large Midcap, Mid Small cap, Nifty 200. In the Nifty Financial Services, India Bulls Ventures will be replaced by SBI Life Insurance. On account of proposed scheme of arrangement for Amalgamation in GSK Consumer Healthcare, it will be replaced by Nestle India in the Nifty FMCG Index.
For the Nifty IT, Infibeam Avenues and Oracle Financial Services would be replaced by Hexaware and Just dial Limited. Jindal Stainless (Hisar) will be out of Nifty Metal and included with Ratnamani Metals.
In Nifty Media, Private Bank Indices were also changed with few stocks. DCB Bank will be replaced with City union bank (CUB) in the Nifty Private Bank.
NSE is the second largest Stock Exchange in the world by number of Trades in the Equity as per the Last year 2018 Data. NSE Indices Ltd is a subsidiary of National Stock Exchange and it provides variety of indices and its related services for the Capital Market. Generally, Nifty 50 index is widely tracked and traded as the Bench mark for the Indian Stock Market.
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