IndusInd Bank, NMDC shares gain on Nifty inclusion

MUMBAI: Shares of IndusInd Bank and NMDC today gained up to over 3 per cent as both the companies would be included in the National Stock Exchange's benchmark index Nifty from April 1.

IndusInd Bank shares moved up by 1.87 per cent to Rs 448.90 - its record high on the BSE, while at NSE, it rose by 2 per cent to an all-time high of Rs 449.70.

Shares of state-run NMDC were up 3 per cent to Rs 148.95 at the BSE. On the NSE, the stock climbed 3.2 per cent to Rs 151.50.

India Index Services & Products Ltd, an NSE-Crisil joint venture that maintains Nifty index, had yesterday said Wipro and Siemens would be excluded from the 50-share benchmark index with effect from April 1, 2013.

In their place, private sector lender IndusInd Bank and state-run NMDC would be included in the Nifty index.