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Yes Bank To Be Out Of Nifty From 27 March; Vodafone Idea To Be Dropped From Nifty Next 50

By Staff
|

Private sector lender Yes Bank will be replaced by Shree Cement on NSE's benchmark index Nifty 50 from 27 March, said NSE Indices on Tuesday.

Further, Vodafone Idea, Ashok Leyland, Indiabulls Housing Finance, L&T Finance Holdings and Shree Cement will be dropped from Nifty Next 50. They will be replaced with Adani Transmission, IDBI Bank, Info Edge, Larsen & Toubro Infotech and Torrent Pharmaceuticals.

Yes Bank Out Of Nifty From 27 March; Vodafone Idea Dropped From Nifty Next 50
 

Changes have been made in several indices including Nifty 500, Nifty 200, Nifty 100, Nifty Midcap 150, Nifty Smallcap 250 and host of sectoral indices including FMCG, IT, media, pharma, commodities and services sector.

NSE Indices' Index Maintenance Sub-Committee has decided to make the replacement of stocks in various indices as part of its periodic review. These changes would become effective from 27 March 2020. Also, NSE Indices has revised the eligibility criteria for inclusion in Nifty's 17 sectoral indices.

Under the new criteria, companies should be a part of Nifty 500 at the time of review.

In case, the number of eligible stocks representing a particular sector within Nifty 500 falls below 10, then deficit number of stocks shall be selected from the universe of stocks ranked within top 800 based on both average daily turnover and average daily full market capitalisation based on previous six months period data used for the index.

At present, companies need to rank within the top 800 based on both average daily turnover and average daily full market capitalisation based on the previous six months period data for inclusion in the indices.

Read more about: yes bank vodafone idea
Story first published: Tuesday, February 18, 2020, 21:07 [IST]
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