HDFC Life replaces Vedanta in Nifty; SBI Card enters 5 indices

Vedanta will cease to be a part of Nifty 500, Nifty 100, Nifty LargeMidcap 250 and Nifty 200.

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HDFC Life Insurance will cease to be a part of Nifty Next 50, and will be replaced by SBI Cards and Payments Services.
Mumbai: NSE said on Thursday its index maintenance sub-committee is replacing Vedanta with HDFC Life Insurance Co in its flagship Nifty50 index, effective July 31 due to the proposed voluntary delisting of the mining major.

HDFC Life Insurance will cease to be a part of Nifty Next 50, and will be replaced by SBI Cards and Payments Services.

Vedanta will also cease to be a part of Nifty 500, Nifty 100, Nifty LargeMidcap 250, Nifty 200, and will be replaced by SBI Card in each of these indices, the exchange said.


Vedanta will be replaced in Nifty Metal, Nifty Commodities, Nifty MNC, Nifty 50 Value 20, Nifty 500 Value 50 and Nifty High Beta 50 indices by Mishra Dhatu Nigam, Coromandel International, Nippon Life India Asset Management, Hindalco Industries, SJVN and IDFC First Bank, respectively.

The index maintenance sub-committee also decided to exclude Total Transport Systems and Univastu India from Nifty SME Emerge index effective July 9, as these companies shift to the main board.

Last month, Billionaire Anil Agarwal-controlled Vedanta said it has received shareholders' nod for delisting the company. Vedanta Resources (VRL), which owns 50.1 per cent of Vedanta, offered to acquire all of the balance 49.9 per cent shareholding held by the public and delist the company.
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On May 18, Agarwal-chaired board of directors of Vedanta approved its parent VRL's open offer.
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