This Article is From Aug 12, 2015

Adani Ports to Replace NMDC on Nifty

Adani Ports to Replace NMDC on Nifty
Mumbai: Adani Ports will replace state-run iron ore miner NMDC Ltd on the National Stock Exchange's benchmark index Nifty from September 28.

At the same time, Adani Ports and Special Economic Zone, Reliance Power and Union Bank of India would exit the CNX Nifty Junior index and would be replaced by Marico, NMDC and Sundaram Finance.

The changes were decided by the index maintenance sub-committee as part of its periodic review, India Index Services & Products (IISL) said in a statement on Wednesday.

"These changes shall become effective from September 28, 2015 (close of September 24, 2015)," it added.

A host of changes have also been made in various other indices of NSE including CNX Nifty Junior Index, CNX 100 Index, CNX 200 Index, CNX 500 Index, LIX15 Index, LIX15 Midcap Index, CNX Midcap Index and CNX Smallcap Index. These changes will also come into effect from September 28.

As per the modifications, Reliance Power and Union Bank of India would be dropped from CNX 100 while Marico and Sundaram Finance would added.

Besides, nine companies including Edelweiss Financial Services, Indian Hotels, Indian Overseas Bank and UCO Bank would be dropped from CNX 200.

Adani Power, NATCO Pharma and seven other companies will join this index.

Another 14 companies would be replaced on the CNX 500 index.

Lupin and Tech Mahindra would replace BHEL and Vedanta on NSE's LIX15 Index.

Four companies - Indian Oil Corporation, LIC Housing Finance, MRF and SAIL - would be excluded from LIX15 Midcap Index. Bharat Electronics, Exide Industries, Mahindra & Mahindra Financial Services and Voltas would be included on this index.

CNX Midcap index would see the exit of 15 firms including Allahabad Bank, Eicher Motors and GMR Infrastructure. These will be replaced by 15 other firms including Adani Power, DCB Bank and JSW Steel.

CNX Smallcap index would also witness replacement of 15 companies.

NSE has also made changes to sectoral indices - CNX Service Sector Index, CNX Metal Index, CNX Media Index, CNX Infrastructure Index, CNX Finance Index, CNX Energy Index and CNX Consumption Index.