On Tuesday, NSE, the leading stock exchange of India has announced replacement of Lupin stock with JSW Steel with effect from September 28, 2018 in the NSE Nifty 50 index.
Also it notified that a series of other replacements will also be brought about in other indices including Nifty Next 50, Nifty 500, Nifty 100, Nifty 200, Nifty Midcap 150, Nifty Smallcap 250, Nifty Midcap 50, Nifty Midcap 100 as well as sectoral indices like PSU Banks, media, realty and commodities among others.
The statement by the leading bourse said, "The Index Maintenance Sub-Committee (IMSC) has decided to make the following replacement of stocks in various indices as part of its periodic review. This will be effective from September 28, 2018". It also stated that changes shall apply to Nifty 50 Equal Weight index.
As part of the periodic review, the change has been notified by NSE indices, which is an arm of the NSE.