Drug makers Cipla and Lupin will be dropped from the index. The changes are announced by Asia Index, a joint venture between S&P Dow Jones Indices LLC and BSE. The move is a part of Asia Index's semi-annual reconstitution results.

"Effective at the open of Monday, December 18, 2017, ...changes will be made," the index provider noted.

The BSE-100, an index of the top 100 listed companies in the country will see Federal Bank, Grasim Industries, Vakrangee Ltd and Bajaj Holdings & Investment coming in. 6 Biggest Mistakes Stock Market Investors Makes

However, United Breweries, Steel Authority of India Ltd (SAIL), Canara Bank and Reliance Infrastructure will move out from the BSE-100 index.

Besides, changes have been announced in Sensex 50, Sensex Next 50, BSE 200 and BSE 500, among others.

Grasim Industries, Hindalco Industries, Hindustan Petroleum Corp Ltd (HPCL) will join the Sensex 50 index, replacing Ambuja Cements, Aurobindo Pharma, and Bosch.

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