The Index Maintenance Sub-Committee (IMSC) of the National Stock Exchange (NSE) on Thursday released the list of changes to be incorporated in various indices. According to the release, Vedanta Limited which has proposed for voluntary delisting, will be excluded from the ‘Nifty 50’ index and will be replaced by HDFC Life Insurance.
SBI Cards and Payment Services will replace HDFC Life in ‘Nifty Next 50’.
The credit and debit card arm of State Bank of India will also replace Vedanta in ‘Nifty 500’, ‘Nifty 100’, ‘Nifty 200’ and ‘Nifty LargeMidcap 250’.
Vedanta will be replaced in sector-specific indices too by Mishra Dhatu Nigam Ltd (Nifty Metal), Coromandel International Ltd (Nifty Commodities), Nippon Life India Asset Management (Nifty MNC), Hindalco Industries (Nifty50 Value 20), SJVN Ltd (Nifty500 Value 50) and IDFC First Bank Ltd (Nifty High Beta 50).
The changes will be applicable from 31 July, 2020, the release said.