National Stock Exchange Ltd (NSE) benchmark Nifty 50 index has made few changes in its constituents which will be effective from 29 September.
“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),” a statement said.
India Index Services and Products Ltd (IISL), an NSE group firm has said that three stocks will be added to the index replacing four constituents. Three firms including Tata Power, ACC Ltd and Bank of Baroda (BoB) and shares of Tata Motors that carry differential voting rights (DVRs) will be dropped from the Nifty 50 index and will be replaced by Bajaj Finance Ltd, Hindustan Petroleum Corp. Ltd (HPCL) and UPL Ltd.
With the changes in its constituents, the index will revert to being a gauge of 50 members. In April last year, it had included DVRs from Tata Motors in the index, taking the total number of securities on the Nifty 50 index to 51.
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