National Stock Exchange of India Limited (NSE) on Tuesday has announced a minor reconstitution in the benchmark Nifty50 by replacing of Pharma major Lupin’s stock with JSW Steel, effective from September 28, 2018. The NSE issued a notification in this connection on Tuesday.
The Exchange also notified that a number of replacements in other indices including Nifty500, Nifty100, Nifty200, Nifty Next50, Nifty Midcap150, Nifty Midcap50/100 in addition to sectoral indices including PSU Banks, media, realty and commodities and so on.
Concerning the Nifty Next50, Cummins India Limited, Emami Limited, JSW Steel Limited, Power Finance Corporation Limited, Punjab National Bank, and Rural Electrification Corporation Limited will be replaced by Bandhan Bank, Biocon Ltd, HDFC Standard Life Insurance Co Ltd, ICICI Lombard, Lupin Ltd, and The New India Assurance Company.
Meantime, during mid-market trading hours, Wednesday, shares of JSW Steel rose over 7 percent while Lupin down 0.58 percent in trade.