(PTI) Adani Enterprises Ltd will replace Shree Cement Ltd from National Stock Exchange's benchmark index Nifty 50 from September 30.
Adani Enterprises is the flagship company of Adani Group and Shree Cement is the leading cement-making firm, owning brands such as Roofon, Bangur Power, Shree Jung Rodhak, Bangur Cement and Rockstrong.
The Index Maintenance Sub-Committee - Equity (IMSC) of NSE Indices Limited has decided to make the changes as a part of its periodic review, a release said on Thursday.
Apart from Nifty 50, changes have been announced in several indices, including Nifty Next 50, Nifty 500, Nifty 200 and Nifty 100.
Adani Total Gas Ltd, Bharat Electronics Ltd, Hindustan Aeronautics Ltd, Indian Railway Catering and Tourism Corporation Ltd, MphasiS Ltd, Samvardhana Motherson International and Shree Cement Ltd will find a place in the Nifty Next 50.
Adani Enterprises, Jubilant Foodworks, Lupin, MindTree Ltd, Punjab National Bank, Steel Authority of India Ltd and Zydus Lifesciences will be dropped from the Nifty Next 50 index.
These changes will become effective from September 30.
According to the release, no changes are being made in Nifty Aditya Birla Group, Nifty Mahindra Group and Nifty Tata Group indices.
Separately, NSE Indicies has decided to exclude B&B Triplewall Containers and SecUR Credentials from Nifty SME Emerge index on account of proposed migration of these companies from NSE's SME Emerge platform to the exchange's main board. This change will become effective from September 8.