Britannia Industries replaces HPCL in Nifty50
The HPCL stock has declined over 42% from its 52-week high to a market-cap of ₹34,774 crore on Monday.
By ET Bureau |
Mumbai: NSE Indices on Monday announced a minor rejig in the benchmark Nifty50 index by replacing state-owned oil marketing company Hindustan Petroleum Corporation with India’s second-largest biscuit maker, Britannia Industries. This change will become effective from March 29, 2019.
The HPCL stock has declined over 42% from its 52-week high to a market-cap of ₹34,774 crore on Monday, half of Britannia Industries’ which commands a market cap of ₹73,254 crore currently.
The index provider also announced that it will be replacing six stocks in the Nifty Next50 index. The stocks to be excluded are Aditya Birla Capital, Bharat Electronics, Britannia Industries, LIC Housing Finance, Oil India and Sun TV. These six stocks will be replaced by Bajaj Holdings, Divi’s Lab, HDFC AMC, HPCL, Page Industries and United Breweries.
The HPCL stock has declined over 42% from its 52-week high to a market-cap of ₹34,774 crore on Monday, half of Britannia Industries’ which commands a market cap of ₹73,254 crore currently.
The index provider also announced that it will be replacing six stocks in the Nifty Next50 index. The stocks to be excluded are Aditya Birla Capital, Bharat Electronics, Britannia Industries, LIC Housing Finance, Oil India and Sun TV. These six stocks will be replaced by Bajaj Holdings, Divi’s Lab, HDFC AMC, HPCL, Page Industries and United Breweries.
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