United Spirits will be replaced by Zee Entertainment Enterprises in the National Stock Exchange's benchmark index Nifty from September 19.
India Index Services & Products Ltd, a subsidiary of NSE Strategic Investment Corporation Ltd, said in a statement yesterday that United Spirits Ltd (USL) will be excluded from the 50 bluechip index, while Zee Entertainment will be inducted in the index.
"These changes shall become effective from September 19, 2014 (close of September 18, 2014)," the statement said.
Following the announcement, shares of USL fell 1.91 per cent today to Rs 2,408.75 apiece during afternoon trade on the BSE, while the scrip of Zee Entertainment rose 1.65 per cent to Rs 292 per scrip on the exchange.
A host of changes have also been made in various other indices of NSE such as CNX Nifty Junior Index, CNX 100 Index, CNX 200 index and CNX 500 index by its Index Maintenance Sub-Committee during a periodic review, it said.
Besides, sectoral indices for FMCG and consumption would also see some changes.
The stocks excluded from Nifty Junior index are MphasiS and Zee Entertainment Enterprises, while Aurobindo Pharma and Motherson Sumi Systems would be included in the index.
In the CNX 100 index, MphasiS and USL would be replaced by Aurobindo Pharma and Motherson Sumi Systems.
Those being dropped from CNX 200 index included Adani Power, Bajaj Finserv, Bhushan Steel, GlaxoSmithkline Consumer Healthcare, Religare Enterprises, Gillette India, Berger Paints and Vijaya Bank.
The stocks being added to CNX 200 index include Alembic Pharmaceuticals, Engineers India, SKS Microfinance TVS Motor Company, Indian Oil Corporation, Muthoot Finance, Marico and National Aluminium Co Ltd.
