Akash Jha
On August 17th, the National Stock Exchange of India (NSE) announced a restructuring of its key indices, which will result in the removal of ACC, Nykaa, and HDFC Asset Management Company (HDFC AMC) from the Nifty Next 50. Beginning on September 29th, the new policy will be implemented.
It was also decided that Indus Towers and Page Industries will be removed from the Nifty Next 50 along with the aforementioned three companies. In their stead will come companies like Punjab National Bank, Shriram Finance, Trent, TVS Motor, and Zydus Lifesciences.
The Nifty 100 index will undergo the same round of replacement beginning on the 29th of September. According to a press statement from NSE, in addition to the aforementioned five companies, Tata Motors would also be included in Nifty 100.
ACC, which operates Nykaa, has seen its stock value drop by 22.21 percent year to date, FSN E-Commerce Ventures, which operates Indus Towers, has seen its stock value drop by 14.28 percent, and Page Industries, which operates Indus Towers, has seen its stock value fall by 1.72 percent.
The BSE’s closing prices for the day of August 17 were as follows: ACC: Rs 1,897.80; Nykaa: Rs 133; Indus Towers: Rs 161.55; and Page Industries: Rs 41,200.NSE has also made adjustments to the larger Nifty 500 index, with a total of 18 businesses scheduled for elimination on September 29. Indiabulls Real Estate, Mahindra Logistics, Hinduja Global Solutions, Jindal Worldwide, and Godrej Agrovet are just a few examples.
An alternative group of 18 companies, including Ujjivan Small Finance Bank, Gillette India, Glenmark Life Sciences, Alok Industries, Procter & Gamble Health, and Kirloskar Ferrous Industries, would take their place.
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