Trent, Canara Bank, BEL, Divi's Labs, LTIMindtree shares in news today, here's why 

Shares of Trent Ltd and Bharat Electronics Ltd (BEL) will be included in Nifty on Friday. The two new Nifty 50 entrants will replace pharma player Divi's Laboratories and IT major LTIMindtree, which will exit the Nifty index. After exiting the Nifty 50 index, Divi's Labs and LTIMindtree are set to enter the Nifty Next 50 index, along with JSW Energy, Lodha, BHEL, NHPC, and Union Bank.

On the other hand, Trent and BEL will make an exit from the Nifty Junior index to move to the Nifty, while Colgate-Palmolive, Marico, SRF, SBI Card and Berger Paints will also make an exit.

The Index Maintenance Sub-Committee (Equity) of NSE Indices has decided to make the changes in various Nifty equity indices as a part of the semi-annual review of broad market indices.

"Trent with average free-float market capitalisation of Rs 99,364 crore and Bharat Electronics with average freefloat market capitalisation of Rs 89,317 crore have been included in Nifty 50 index as the 6-month average free-float market capitalisation of these companies within eligible universe is at least 1.5 times the 6-month average free-float market capitalisation of the smallest constituents i.e. LTIMindtree with average free-float market capitalisation of Rs 47,022 crore and Divi's Laboratories with average free-float market capitalisation of Rs 51,261 crore respectively," NSE said.

The inclusion of Trent and BEL is likely to attract passive inflows of $702 million and $430 million in the Nifty 50 index. The counters will have a weight of 1.4 percent and 0.9 percent respectively, said Nuvama Institutional Equities.

In a related development, Cipla and HDFC Life are also likely to see a rise in their weightage in the Nifty 50 index, while M&M, Infosys, ICICI Bank, Reliance Industries, Adani Enterprises, HDFC Bank, Bharti Airtel, Hindustan Unilever, Kotak Mahindra Bank and Axis Bank will also see a fall in their weights in the index.

Public sector lender Canara Bank will enter the Bank Nifty index replacing Bandhan Bank during the September rejig. The weightage of SBI, Federal Bank, Bank of Baroda, AU Bank and others is likely to rise, while banking bellwethers Kotak Mahindra Bank and HDFC Bank's weightages will reduce.