Havells to replace Sintex in Nifty Midcap 50 index

Havells India will be included in the National Stock Exchange's Nifty Midcap 50 index, replacing Sintex Industries from next month.

According to the changes announced by India Index Services & Products Ltd (IISL) on Friday, an NSE-Crisil joint venture, Sintex Industries, would be excluded from the Nifty Midcap 50 index with effect from July 26, 2013.

In its place, electrical equipment maker Havells India would be included in the index.

"The change in the constituent of Nifty Midcap 50 Index with effect from July 26, 2013," the statement noted.

Earlier, the exchange said that it would exclude Sintex Industries from derivative and Securities Lending & Borrowing Scheme (SLBS) segments with effect from August 30, 2013.