Indiabulls Housing, IOC to Replace Idea, BHEL in Nifty
Mumbai: Housing mortgage company Indiabulls Housing Finance and oil marketing major Indian Oil Corporation will replace BHEL and Idea Cellular in NSE’s benchmark index Nifty. The changes will come into effect from March 31, 2017, according to an announcement made by India Index Services & Products (IISL), an NSE group firm that manages Nifty and other indices.
Bo t h Indiabulls Housing Finance and Indian Oil Cor p o r at i o n ro s e 2.2% to ₹ 831.75 and ₹ 376, respectively, on Thursday.
A host of other modifications will also be introduced by Index Maintenance Sub-Committee in various other indices such as Nifty 500, Nifty 100, Nifty Midcap 150, Nifty Smallcap 250, Nifty MidSmallcap 400, Nifty Next50, Nifty Midcap50, Nifty Full Midcap 100, among others, during a periodic review. The stocks being excluded from Nifty 100 are Apollo Hospitals, Bharat Forge and Castrol India, while ICICI Prudential, Petronet LNG and Rural Electrification are making an entry.
The stocks being excluded from Nifty 100 are Apollo Hospitals, Bharat Forge & Castrol India