Sesa Goa, Bajaj Auto and Dr Reddy's Laboratories will be included in the National Stock Exchange's 50-share benchmark Nifty from tomorrow, replacing three scrips, including the telecom major Idea Cellular.
Apart from Idea Cellular, the engineering firm ABB and the realty giant Unitech will also cease to be on Nifty from October 1.
S&P CNX Nifty is a diversified 50 stock index accounting for 22 sectors of the economy. It is used for a variety of purposes such as benchmarking fund portfolios, index based derivatives and index funds.
The changes were decided by the Index Maintenance Sub-Committee during its periodic review on August 18 and shall become effective from tomorrow.
Till now Bajaj Auto, Dr Reddy's Lab and Sesa Goa were part of NSE's CNX Nifty Junior Index, the next rung most liquid stocks after Nifty. Now these firms, besides Tata Teleservices (Maharashtra) Ltd, will be excluded from the Nifty Junior Index.
These four stocks will be replaced by Grasim Industries, Rural Electrification Corporation, Shriram Transport Finance and Yes Bank in the Nifty Junior.
