MUMBAI, Feb 23: Shares of Tata Motors Ltd (DVR), Aurobindo Pharma, Bharti Infratel and Eicher Motors rose by up to 7.3 per cent today as these stocks would be included in the National Stock Exchange’s Nifty 50 index with effect from April 1.
Shares of Tata Motors Ltd DVR surged 7.26 per cent, Aurobindo Pharma rose by 2.9 per cent, Bharti Infratel 2.7 per cent and Eicher Motors 1.46 per cent on the NSE.
Cairn India, Punjab National Bank and Vedanta will be dropped from the index and replaced by Aurobindo Pharma, Bharti Infratel, Eicher Motors and Tata Motors Ltd (DVR).
Consequently, shares of PNB fell by 3.24 per cent.
Vedanta fell 1.68 per cent and Cairn India was down 0.49 per cent.
Tata Motors shares are already part of Nifty, and inclusion of Tata Motors Ltd (DVR) in the index will take the number of securities to 51.
However, the total number of companies will continue to be 50.
Equity shares with differential voting rights are eligible to be included in the indices as an additional security subject to the fulfilment of eligibility criteria, India Index Services and Products Ltd (IISL), a subsidiary of NSE Strategic Investment Corporation, said in a circular yesterday.
“On account of inclusion of Tata Motors Ltd (DVR), the Nifty 50 index shall have 51 securities,” it added. (PTI)
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