DB Realty to replace Dalmia Cement in NSE's S&P 500 Index

NEW DELHI: The National Stock Exchange on Wednesday said it will exclude Dalmia Cement (Bharat) Ltd from its S&P CNX 500 Index with effect from September 24,

The scrip will be replaced by DB Realty Ltd in the index, the exchange said in a statement.

The exchange is excluding Dalmia Cement after the company announced a restructuring scheme and the ex-date for the same is September 24, 2010.

In March this year, Dalmia Cement (Bharat) had announced demerger of its cement, power and refractory businesses to a new entity -- Dalmia Bharat Enterprises Ltd (DBEL). The sugar business was retained in the parent company.

Under the demerger scheme, the shareholders of the Dalmia Cement (Bharat) Ltd (renamed to Dalmia Bharat Sugar and Industries Ltd) are entitled to shares of the new entity DBEL in the ratio 1:1.

Dalmia Cement (Bharat) yesterday said that its has been changed to Dalmia Bharat Sugar and Industries Ltd after restructuring of the business.

"To reflect the post restructuring businesses, the name Dalmia Cement (Bharat) Ltd has been changed to Dalmia Bharat Sugar and Industries Ltd with effect from September 7 as intimated by Registrar of Companies," the company said in a statement.

Shares of Dalmia Cement on Wednesday closed at Rs 239.05, up 4 per cent on the NSE.