NMDC, IndusInd Bank the new Nifty debutantes scale higher

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Mineral mining company, NMDC and private sector bank IndusInd Bank made their debut among the S&P CNX Nifty stocks today. The two scrips were included in the Nifty from April 1, in place of Wipro and Siemens.

 NMDC, IndusInd Bank the new Nifty debutantes scale higher
NMDC: Quotes, News
BSE 120.65BSE Quote2.65 (2.20%)
NSE 120.75NSE Quote2.15 (1.78%)
IndusInd Bank: Quotes, News
BSE 1605.45BSE Quote20.85 (1.30%)
NSE 1621.05NSE Quote7.45 (0.46%)
NMDC was trading higher at Rs 137.65, while IndusInd Bank was also trading higher at Rs 407 on the Bombay Stock Exchange.

The Nifty is widely tracked by investors around the globe and is used for benchmarking fund portfolios
and is more broad based then the BSE Sensex.

Wipro despite being out of the Nifty was trading steady at Rs 453. Analysts were a little worried on how Wipro was excluded from the Nifty though many believe this was largely on account of a restructuring exercise.

In November last year, the Wipro board approved demerger of the non-IT businesses - Wipro Consumer Care & Lighting (including furniture business), Wipro Infrastructure Engineering (hydraulics and water businesses) and Medical Diagnostic Product & Services - into a privately held company to be named ‘Wipro Enterprises Ltd'

Also read why is Wipro being dumped from the Nifty

Nifty is managed by India Index Services & Products Ltd, an NSE-Crisil joint venture.


Read more about: nmdc, indusind bank
Story first published: Monday, April 1, 2013, 10:00 [IST]
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