Shriram Finance To Replace UPL From NSE's Nifty 50 Index

The National Stock Exchange, after its periodic review, has decided to replace UPL Ltd. with Shriram Finance Ltd. in its Nifty 50 Index. The changes will be effective on March 28, 2024.

The Nifty Next 50 Index will, from March 28, include Adani Power Ltd., Indian Railway Finance Corporation Ltd., Jio Financial Service Ltd., Power Finance Corporation Ltd. and REC Ltd.

The companies will be replacing Adani Wilmar Ltd., Muthoot Finance Ltd., PI Industries Ltd., Procter & Gamble Hygiene & Health Care Ltd. and Shriram Finance Ltd.

UPL, Adani Wilmar, Muthoot Finance, PI Industries and P&G Hygiene & Health Care will be excluded from the Nifty 100 index. On the other hand, the additions include Adani Power, IRFC, Jio Financial Services, PFC and REC.

In its press release on Wednesday, the NSE said Abbott India Ltd., Balkrishna Industries Ltd., Bandhan Bank Ltd., and PFC in the Nifty Midcap Select index will be replaced by Lupin Ltd., PI Industries Ltd., UPL and Vodafone Idea Ltd.

Brightcom Group Ltd., G R Infraprojects Ltd., Nazara Technologies, Pfizer Ltd., TTK Prestige Ltd., Shoppers Stop Ltd., Teamlease Services, Zydus Wellness and 26 other companies will be excluded from the Nifty 500. The companies will be replaced by Cello World, DOMS Industries, Happy Forgings, Honasa Consumers, IREDA, Inox Wind Ltd., Jio Financial Services and Titagarah Rail Systems, among others.

A total of 14 companies from the Nifty Midcap 150 index and 36 companies from the Nifty Smallcap 250 index have been replaced.

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