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On account of the recent developments relating to Yes Bank, the National Stock Exchange (NSE) on Monday issued a press release stating that its Index Maintenance Sub-Committee (IMSC) has decided to accelerate the removal of the private lender from all Nifty indices from 19 March 2020. It also announced replacements.
As per its previous press releases on 18 February and 12 March, Yes Bank Limited was to be excluded from NIFTY 50, NIFTY Bank, and also to be included in & excluded from other Nifty indices from 27 March.
"However, in light of the recent developments relating to Yes Bank and the Gazette notification dated March 13, 2020 on 'Yes Bank Limited Reconstruction Scheme, 2020', subsequent to above announcements on index rebalancing, the Index Maintenance Sub-Committee (IMSC) has decided to accelerate the removal of Yes Bank Limited from NIFTY 50 and NIFTY Bank and also remove it from all NIFTY equity indices w.e.f. Thursday, March 19, 2020 (close of March 18, 2020)," the exchange's statement explained.
Replacements:
- On NIFTY 50, Yes Bank will be replaced by Shree Cement Ltd.
- On NIFTY Bank, NIFTY Private Bank and NIFTY Services Sector, Yes Bank will be replaced by Bandhan Bank.
- On NIFTY Next 50, Shree Cement Ltd will be replaced by Adani Transmission Ltd.
- On NIFTY 500, Yes Bank will be replaced by Sterling And Wilson Solar Ltd.
- On NIFTY 100 and NIFTY100 Equal Weight Index, Yes Bank will be replaced by Adani Transmission Ltd.
- On NIFTY Midcap 150, Adani Transmission Ltd will be replaced by Adani Green Energy Ltd.
- On NIFTY Smallcap 250, Adani Green Energy Ltd will be replaced by Sterling And Wilson Solar Ltd.
- On NIFTY 200, Yes Bank will be replaced by Adani Transmission Ltd.
- On NIFTY LargeMidcap 250, Yes Bank will be replaced by Adani Green Energy Ltd.
- On NIFTY MidSmallcap 400, Adani Transmission Ltd will be replaced by Sterling And Wilson Solar Ltd.
- On NIFTY100 Liquid 15, Yes Bank will be replaced by Bharti Airtel.
- On NIFTY High Beta 50, Yes Bank will be replaced by NMDC Ltd.
- On NIFTY50 Value 20, Yes Bank will be replaced by ITC Ltd.
- On NIFTY500 Value 50, Yes Bank will be replaced by GHCL Ltd.
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