Steel giant SAIL and Vedanta group firm Sterlite Industries are being moved out of the National Stock Exchange’s benchmark index Nifty, and would be replaced by Birla group firm UltraTech and drugmaker Lupin.
As per the changes announced on Thursday by India Index Services and Products (IISL), an NSE-Crisil joint venture that maintains Nifty index, SAIL and Sterlite Industries would be excluded from the 50-share benchmark index with effect from September 28, 2012.
In their place, Lupin and UltraTech Cement would be included in the Nifty index, IISL said in a statement, while announcing a host of other changes decided by its Index Maintenance Sub-Committee during a periodic review.
Changes have also been made in various other indices of NSE. Sectoral indices for Infrastructure, IT, Media, MNCs and Pharma will also see some changes.
Keywords: National Stock Exchange, Nifty
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