Moneycontrol
Feb 17, 2017 04:03 PM IST | Source: Moneycontrol.com

Indiabulls Housing, IOC shares soar 3-6% on addition in Nifty 50

On the other side, the exchange will remove country's third largest telecom operator Idea Cellular and state-run power equipment maker BHEL with effect from same date. After this news, stocks fell as much as 5.4 percent and 2.3 percent, respectively.

Indiabulls Housing, IOC shares soar 3-6% on addition in Nifty 50

Moneycontrol Bureau


Shares of Indiabulls Housing Finance rallied 6 percent and Indian Oil Corporation gained 2.8 percent intraday Friday after the National Stock Exchange has decided to add both in its Nifty 50 index with effect from March 31, 2017.


On the other side, the exchange will remove country's third largest telecom operator Idea Cellular and state-run power equipment maker BHEL with effect from same date. After this news, stocks fell as much as 5.4 percent and 2.3 percent, respectively.


Idea was added in the Nifty in December 2007 and BHEL included in the index in May 1997 by India Index Services and Products.


Apart from Nifty 50, the exchange also made changes to several indices including Nifty 500, Nifty 100, Nifty Midcap 50, Nifty Smallcap 250, Nifty Next 50.


Besides, changes have also been done in sectoral indices such as metal, private bank, media, bank and commodities.


The exchange decided to remove Hexaware Technologies, Petronet LNG and Rural Electrification Corporation from Nifty Midcap 50 index while Apollo Hospitals Enterprises, Bharat Forge and Castrol India would be added in the index.


In case of Bank index, it said Bank of India will be excluded while IDFC Bank will be included.


CompanyLast Price Rs% Change
Indiabulls Housing Finance859.43.32
Indian Oil Corpration384.752.33
Idea Cellular105.85-1.81
BHEL151.4-1.37
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