Trent Ltd, a Tata Group retail company, and state-owned Bharat Electronics Ltd (BEL) will be included in the National Stock Exchange’s benchmark index Nifty 50 from September 30, according to the NSE’s latest semi-annual rejig announcement.
Drug firm Divi’s Laboratories and technology services provider LTI Mindtree will be dropped from the Nifty 50 index, NSE Indices announced on August 23.
Importantly, shares of Trent Ltd and Bharat Electronics Ltd (BEL) have given massive returns to the investors rising by over 232 per cent and 125 per cent, respectively, in the past one year.
The Index Maintenance Sub-Committee (Equity) of NSE Indices Ltd has decided to make these replacements in the indices as part of its periodic review.
“These changes shall become effective from September 30, 2024,” NSE Indices said in a statement.
Additionally, Bharat Heavy Electricals Ltd, Divi’s Laboratories, JSW Energy, LTIMindtree, Macrotech Developers Ltd. NHPC and Union Bank of India will be included in Nifty Next 50 index.
On the other hand, Berger Paints India, Bharat Electronics, Colgate Palmolive (India) Ltd, Marico, SBI Cards and Payment Services, SRF and Trent will be excluded from the index.
Further, changes have been announced in several indices including Nifty 500, Nifty 200, Nifty 100, Nifty Smallcap 250, Nifty Midcap 150 and Nifty Midcap 50. Separately, NSE Indices announced the exclusion of Tata Motors Ltd. ‘A’ Ordinary Shares – DVR ni from various indices, effective from August 30.
This exclusion is due to the company’s capital reduction scheme, which involves the cancellation of all ‘A’ Ordinary Shares (with differential voting rights) and their replacement with Ordinary Shares. As a result, Tata Motors Ltd. ‘A’ Ordinary Shares – DVR will be removed from the indices including Nifty 100, Nifty 200, Nifty 500 and Nifty Auto.
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