Street signs: RIL becomes top index weight, Vedanta deal, and more

RIL becomes top index weight

Following a stupendous rally in its share price, Reliance Industries (RIL) has become the company with highest weighting on the benchmark Nifty and Sensex indices. According an analysis done by a brokerage, RIL has become the most important stock in the blue-chip indices after nearly a decade. HDFC Bank, which enjoyed the top slot during the start of the year, has slipped to the second spot, despite its high public float. Interestingly in 2015, RIL wasn’t even in the top five. Analyst say, once the mega rights issue concludes, the Mukesh Ambani-led company’s weighting will go