IT major Wipro and diversified group Siemens will be dropped from the (National Stock Exchange) NSE's benchmark index Nifty from April 1.
IT major Wipro and diversified group Siemens will be dropped from the (National Stock Exchange) NSE's benchmark index Nifty from April 1. India Index Services & Products Ltd, an NSE-Crisil joint-venture that maintains the Nifty index, in a statement on Wednesday said Wipro and Siemens would be excluded from the 50-share benchmark index with effect from April 1, 2013.
In their place, private-sector lender IndusInd Bank and state-run NMDC would be included in the Nifty index, the statement said. A host of changes have also been made in various other indices of NSE such as CNX Nifty Junior Index, CNX 100 Index, CNX 200 Index, CNX 500 Index, CNX Midcap Index and CNX Smallcap Index by the NSE's Index Maintenance Sub-Committee during a periodic review, it said.
Besides, sectoral indices for auto, commodities, IT, consumption, metal, MNC, PSE, realty and service would also see some changes.
The stocks excluded from Nifty Junior index are Biocon, GMR Infrastructure, IndusInd Bank and Torrent Power, while Bajaj Finserv, Siemens, Tata Global Beverages and United Breweries would be included in the index.
In the CNX 100 index, Biocon, GMR Infrastructure, Torrent Power and Wipro would be replaced by Bajaj Finserv, NMDC, Tata Global Beverages and United Breweries.
Those being dropped from CNX 200 Index include CMC, Container Corporation of India, Coromandel International, Dish TV India, Engineers India, Great Eastern Shipping Company, Mangalore Refinery and Petrochemicals Ltd, Ruchi Soya Industries, Shipping Corporation of India, Thermax and Wipro.
The stocks that being added to CNX-200 index include Amara Raja Batteries, City Union Bank, Emami, ING Vysya Bank, L&T Finance Holdings, NMDC, Pidilite Industries and Shriram City Union Finance, Torrent Power, TV18 Broadcast and Wockhardt.