Punjab National Bank, Cairn India and Vedanta would no longer find a place in the Nifty with effect from April 1, 2016, following a decision by IISL to exclude these stocks.
On the other hand Tata Motors DVR, Eicher, Bharti Infratel and Aurobindo Pharma have been included in the Nifty.
Market capitalization criteria shall be measured at a company level by aggregating the market capitalization of individual class of security meeting the liquidity criteria for the respective index.
On account of inclusion of Tata Motors Ltd. (DVR), the Nifty Tata Group 25% Cap index shall have 11 securities. The Nifty itself will now have 51 securities, as against the earlier 50 scrips.
Shares in Tata Motors DVR jumped 4 per cent, following the addition of the DVR into the Nifty 50, while Cairn India, Vedanta Punjab National Bank saw a drop in their share prices.
There were also a revamp that took place in the small cap space, Nifty Next 100 index, Nifty 200 index and Nifty 500 index.