Reliance Infra to enter Nifty Midcap 50; Vijaya Bank to exit
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Mumbai: Reliance Infrastructure will be included in the National Stock Exchange's Nifty Midcap 50 index, replacing Vijaya Bank, from next month. According to the changes announced on Monday by India Index Services and Products Ltd (IISL), an NSE-Crisil joint venture, the Bangalore-based public sector lender will be excluded from the Nifty Midcap 50 index with effect from November 29.
In its place, Reliance Infrastructure would be included in the index. Nifty Midcap 50 index consists of stocks with average free float market capitalisation ranging from Rs 1,000 crore to Rs 5,000 crore at the time of selection.
Earlier in August, the exchange had announced that IT major Wipro would enter the NSE's 50-share Nifty index with effect from September 27, while Reliance Infrastructure would exit.