IndusInd Bank, Yes Bank to be part of BSE Sensex from Dec 18; Cipla, Lupin dropped

Asia Index Pvt Ltd on Friday announced that pharma firms Cipla and Lupin will be dropped from the S&P BSE Sensex, while IndusInd Bank and Yes Bank will be added with effect from December 18, 2017.

With this, Sun Pharma, will remain the only pharmaceutical company in the headline index. Also, the count of financial stocks will go up to eight from six currently in the index. All the changes will come into effect at the open of Monday, December 18, 2017.

According to Reuters, Yes Bank has gained nearly a third so far this year, while IndusInd Bank has added more than 45 per cent. Lupin has shed 44 per cent, while Cipla has gained about 4 per cent in 2017.

Asia Index Pvt Ltd is a 50-50 partnership between US-based S&P Dow Jones Indices and Asia’s oldest stock exchange BSE.

The company in a notification on Friday also announced changes to S&P BSE 100, BSE Sensex 50 and BSE TECK indices.

In BSE 100 index stocks of Federal Bank, Grasim, Vakrangee and Bajaj Holdings will be added in place of stocks of United Breweries, Steel Authority of India, Canara Bank and Reliance Infrastructure.

Moreover, Grasim, Hindalco, HPCL, Jindal Stainless, KEI Industries, Deepak Nitrite, Shankara Building Products, Meghmani Organics, Tata Metailks and V-Mart will be added to BSE 50 index in place of Ambuja Cement, Aurobindo Pharma, Bosch, Rolta India, Videocon, Honeywell, Religare Enterprises, OCL, Westlife and Future Retail.

Recently, the National Stock Exchange (NSE) also had made changes to its headline index Nifty50. Shares of Bajaj Finance, HPCL and UPL were added in place of the shares of ACC, Bank of Baroda and Tata Power and Tata Motors DVR with effect from September 30, 2017.