RCom, Adani Power, Adani Enterprises to exit Nifty Midcap 50

Tags: News
Reliance Communications, Adani Power and Adani Enterprises will be dropped from the National Stock Exchange's Nifty Micap 50 index from September 26.

In their place, Arvind Ltd, Justdial and L&T Finance Holdings will be included in the index, as per the changes announced by India Index Services & Products Ltd (IISL), a subsidiary of NSE Strategic Investment Corporation Ltd.

"These changes shall become effective from September 26, 2014 (close of September 25, 2014)," the statement noted.

A host of changes have also been made in various other indices of NSE such as CNX Midcap Index and CNX Smallcap Index by its Index Maintenance Sub-Committee during a periodic review, it said.

Besides, sectoral indices for PSE, infrastructure, commodities, IT and media would also see some changes.

The stocks being excluded from CNX Midcap index are Adani Enterprises, Adani Ports and Special Economic Zone, McLeod Russel India and UCO Bank, while Indian Oil Corp, Ranbaxy, Housing Development and Infrastructure Ltd and IRB Infrastructure Developers would be included in the barometer.

In the CNX smallcap index, Adani Power, HDIL, IRB Infrastructure Developers, MTNL, Polaris Financial Technology, SKS Microfinance and TVS Motor Company will be replaced by Firstsource Solutions, Jaypee Infratech, Kaveri Seed Company, McLeod Russel India, Monsanto India, Tata Elxsi and UCO Bank.

Besides, Gujarat Mineral Development Corporation will move out of CNX PSE Index, while Engineers India Ltd will join the segment.

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