With effect from May 29, the two companies Tata Communications from the telecom space and Arvind Limited from the textile sector will be moved out from the Nifty MidCap 50 index and in its place Indian Bank and Aluminium Co. will be added.

The changes to this effect have been announced by India Index Services and Products Ltd (IISL), which is an arm of National Stock Exchange, on Friday.

The Nifty Midcap 50 index which includes leading 50 companies depending on full m-cap from Nifty Midcap 150 index and for which derivatives contract are available on the NSE.

In addition, Tata Communications will now be excluded from the Nifty Infrastructure index of the NSE while in its place Torrent Power will be included.

Goodreturns.in