Consumer goods company Tata Consumer Products is going to be a part of benchmark index Nifty50 soon as the company fulfilled the criteria required for inclusion in the index.
The Index Maintenance Sub-Committee (Equity) of NSE Indices has decided to exclude GAIL India, the state-owned natural gas processing and distribution company, from the Nifty50 and include Tata Consumer Products, in the benchmark index.
The changes will become effective from March 31, 2021, said the exchange in its circular dated February 23.
The Index Maintenance Sub-Committee also announced changes in several other indices, including Nifty Next 50, Nifty 500, Nifty 100, Nifty Midcap 150, Nifty Smallcap 250, Nifty Midcap 50, Nifty Midcap 100, Nifty Smallcap 50, Nifty Smallcap 100, Nifty 200, Nifty LargeMidcap 250 and Nifty MidSmallcap 400, which will be effective from the same date.
The changes will also take place in sectoral indices including Nifty Bank, Nifty Consumer Durables, Nifty Financial Services, Nifty Healthcare, Nifty IT, Nifty Media, Nifty Metal, Nifty Private Bank, Nifty PSU Bank, Nifty Realty, Nifty Oil & Gas, Nifty Infrastructure and Nifty Services Sector.
Adani Enterprises, Apollo Hospitals Enterprise, GAIL (India), Jubilant Foodworks, MRF, Vedanta and Yes Bank will replace Bank of Baroda, Container Corporation of India, General Insurance Corporation of India, Hindustan Zinc, Oracle Financial Services Software, Power Finance Corporation and Tata Consumer Products in the Nifty Next 50 index.
AU Small Finance Bank is going to replace Bank of Baroda in the Bank Nifty, while Muthoot Finance will replace the Bajaj Holdings & Investment.
Oracle Financial Services Software will replace Info Edge India in the Nifty IT index.
The Index Maintenance Sub-Committee also made changes in the index maintenance guidelines, criteria and methodology.