Industry

Yes Bank to exit Nifty from March 27

Yes Bank has seen a massive erosion in its valuation with its stock price dropping from a high of ₹286 in April 2019 to the current ₹35.

Yes Bank will be excluded from the benchmark Nifty index with effect from March 27. The domestic lender will be replaced by Shree Cement, according to a release from the National Stock Exchange.

Yes Bank has seen a massive erosion in its valuation with its stock price dropping from a high of ₹286 in April 2019 to the current ₹35.

Incidentally, the banking stock was excluded from the benchmark Sensex in December 2019 when the 30-share index was reconstituted.

Meanwhile, as per the NSE statement, changes have been made to the Nifty Next 50 index as well with stocks such as Ashok Leyland and Indiabulls Housing Finance, L&T Finance Holdings, Shree Cement and Vodafone Idea being excluded and replaced by Adani Transmission, IDBI Bank, Info Edge (India), L&T Infotech and Torrent Pharmaceuticals.

Changes have also been made in some of the broader indices like Nifty 500, Nifty 100, Nifty Midcap 150, Nifty Smallcap 250, Nifty Midcap 50, Nifty Midcap 100, and Nifty Smallcap 100 among others. .

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Printable version | Apr 3, 2020 11:23:59 AM | https://www.thehindu.com/business/Industry/yes-bank-to-exit-nifty-from-march-27/article30853965.ece

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