India Index Services & Products (IISL), a NSE group company, has decided to bring in changes to the composition of its three indices -- CNX Alpha, CNX High Beta and CNX Low Volatility -- from July 13, 2015.
The move is a part of the quarterly review, IISL said in a statement today.
The 50-stock CNX Alpha index would see replacement of 12 companies, including that of Ceat Ltd, Cox & Kings, Manappuram Finance, Suzlon Energy and Havells India.
These stocks would be replaced by Bajaj Corp, Bajaj Finance, Glenmark Pharmaceuticals, Hindustan Petroleum Corporation and Lupin, among others.
At the same time, Raymond would exit from the 50-stock CNX High Beta Index and replaced by Adani Power.
Another 50 stock index -- CNX Low Volatility -- would see the exclusion of Emami and Page Industries. L&T Finance Holdings and Lakshmi Vilas Bank would be added to this index.
"The index maintenance sub-committee of IISL has decided to make the following changes in CNX Alpha, CNX High Beta and CNX Low Volatility indices as part of the quarterly review," the statement said.
"The changes shall become effective from July 13, 2015 (close of July 10, 2015)," it added.
