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Tata Consumer Products to replace GAIL in Nifty 50 from March 31

Adani Enterprises, Apollo Hospitals Enterprise, GAIL, Jubilant Foodworks, MRF, Vedanta and Yes Bank will be added to Nifty Next 50 from March 31.

twitter-logoBusinessToday.In | February 23, 2021 | Updated 23:01 IST
Tata Consumer Products to replace GAIL in Nifty 50 from March 31
The Tata group company had reported a consolidated net profit of Rs 237 crore in October-December quarter, while its total income stood at Rs 3,089 crore.

Tata Consumer Products Ltd will enter the Nifty 50 index from March 31, while GAIL (India) Ltd will be excluded from the index.

The Tata group company had reported a consolidated net profit of Rs 237 crore in October-December quarter, while its total income stood at Rs 3,089 crore.

The changes in index are part of a periodic review conducted by the Index Maintenance Sub-Committee, the National Stock Exchange said in a release.

Adani Enterprises, Apollo Hospitals Enterprise, GAIL, Jubilant Foodworks, MRF, Vedanta and Yes Bank will be added to Nifty Next 50 from March 31, while Bank of Baroda, Container Corporation of India, General Insurance Corporation of India, Hindustan Zinc, Oracle Financial Services Software, Power Finance Corporation and Tata Consumer will be excluded from the index.

While AU Small Finance Bank Ltd will make its entry to Nifty Bank index, Bank of Baroda will be excluded from the index. The NSE also announced changes in other indices like Nifty 500, Nifty 100, Nifty Midcap 150, Nifty Smallcap 250, among others.

The stock exchange also announced changes in its index maintenance guidelines, criteria and methodology.

From March 31, there will be changes to index reconstitution date, quarterly rebalancing of shares and investible weight factors, calculation of price to earnings ratio (P/E ratio) and calculation of dividend yield percentage for indices, among others.

Also read: Tata Consumer Products share rises 3% as ICRA upgrades financial ratings

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