South Indian Bank to Replace Crompton in Nifty Midcap 50

New Delhi: South Indian Bank will be included in the National Stock Exchange's Nifty Midcap 50 index, replacing Crompton Greaves from next month.

According to the changes announced by India Index Services and Products Ltd (IISL), a subsidiary of the NSE, Crompton Greaves will be excluded from Nifty Midcap 50 index with effect from September 28 this year.

In its place, South Indian Bank would be included in the index.

In addition, Crompton Greaves would be dropped from the CNX infrastructure index.

Nifty Midcap 50 index consists of stocks with average free float market capitalisation ranging from Rs 1,000 crore to Rs 5,000 crore at the time of selection.

In a separate circular, the BSE said that Alps Motor Finance would be excluded from its AllCap, SmallCap, MidSmallCap and Finance indices with effect from Wednesday.

The company would be excluded from these indices due to suspension of trading in its stocks.