Shree Cement will replace private lender Yes Bank in the benchmark index Nifty 50 from 27 March 2020, NSE Indices, a subsidiary of the National Stock Exchange (NSE), said on Tuesday.
Shares of Yes Bank were trading 1.28% lower at Rs 34.6. The stock tumbled 83.71% in last one year.Shree Cement was trading 4.83% at Rs 24,947. It surged 62.58% in last one year.
Further, NSE Indices removed Ashok Leyland, Indiabulls Housing Finance, L&T Housing Finance, Shree Cement and Vodafone Idea from Nifty Next 50 index and added Adani Transmission, IDBI Bank, Info Edge (India), L&T Infotech and Torrent Pharmaceuticals.
Amongst NSE's sectorial indices, Edelweiss Financial Services was removed from Nifty Financial Services index and Piramal Enterprises was added instead.
In Nifty FMCG, Godrej Industries was replaced by Varun Beverages. In Nifty IT index, Hexaware Technolgies and Tata Elxsi were dropped and replaced by Info Edge (India) and MphasiS.
In Nifty Pharma index, Glenmark Pharmaceuticals and Piramal Enterprises were excluded while Alkem Laboratories and Torrent Pharmaceuticals were added.
NSE Indices also made changes to Mid Cap and Small Cap indices. All these changes would come in effect from 27 March 2020.
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