IOC and Indiabulls Housing Finance included in NSE’s Nifty50 index; Idea, BHEL excluded

MUMBAI: Housing mortgage company Indiabulls Housing Finance and oil marketing major Indian Oil Corporation will replace BHEL and Idea Cellular in NSE’s benchmark index Nifty. The changes will come into effect from March 31, 2017, according to an announcement made by India Index Services & Products Ltd (IISL), an NSE group firm that manages Nifty and other indices.

Both Indiabulls Housing and Indian Oil Corporate gained 2.26% to Rs 831.75 and Rs 376 respectively on Thursday. A host of modifications will also be introduced by its Index Maintenance Sub-Committee in various other NSE indices such as Nifty 500, Nifty 100, Nifty Midcap 150, Nifty Smallcap 250, Nifty MidSmallcap 400, Nifty Next50, Nifty Midcap50, Nifty Full Midcap 100 among other during a periodic review.

The stocks being excluded from Nifty 100 are Apollo Hospital, Bharat Forge and Castrol India while ICICI Prudential, Petronet LNG and Rural Electrification make an entry.