Mumbai, Aug 28 (IANS) India Index Services and Products (IISL) on Monday said certain changes will be made in stocks of the Nifty50 index -- including other Nifty indices -- which shall become effective from September 29.
According to the subsidiary of stock exchange major NSE, the changes will be made as part of its periodic review.
"The Index Maintenance Sub-Committee (IMSC) 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 29, 2017 (close of September 28, 2017)," IISL said in a statement.
According to the statement, the companies that will be excluded from the Nifty50 index are ACC, Bank of Baroda, Tata Power and Tata Motors DVR.
IISL informed that Bajaj Finance, Hindustan Petroleum Corporation (HPCL) and United Phosphorus Limited (UPL) would be included in the Nifty50 index.
"The above replacements will also be applicable to Nifty50 Equal Weight Index," the statement added.
IISL, which owns and manages a portfolio of indices under the Nifty brand of NSE, provides a variety of indices and index related services for the capital markets.
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.
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