Indiabulls Housing falls 8%, Nestle jumps 3%

The Index maintenance sub-committee of NSE indices decided to include Nestle India in the Nifty as a part of its periodic review

Shares of Indiabulls Housing Finance cracked almost 8 percent, while those of Nestle India climbed 3 percent on the NSE on August 29.

The food and beverage giant is to replace Indiabulls Housing Finance on the Nifty50 index from September 27, the NSE said in its circulars on August 28.

The index maintenance sub-committee of NSE indices decided to include Nestle India in the Nifty 50 as a part of its periodic review.

Nestle has increased investor wealth nearly 23-fold over the last 10 years, while Indiabulls Housing Finance has lost 64 percent in the last year.

Shares of Indiabulls Housing Finance were trading 5.72 percent down at Rs 431.10 at 1045 IST, while those of Nestle India was 1.63 percent up at Rs 12,721.70 on the NSE.

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