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Power equipment manufacturer Bharat Heavy Electricals (BHEL) and telecom operator Idea Cellular have been excluded from the Nifty 50 index. Replacing these two firms are housing mortgage company Indiabulls Housing Finance and oil marketing company Indian Oil Corporation.
Apollo Hospitals Enterprises, Bharat Forge and Castrol India, from the Nifty 100 index, are in turn being replaced by ICICI Prudential Life Insurance, Petronet LNG, and Rural Electrification. The last three along with Bhel and Idea Cellular will be included in the Nifty Next 50, an index which represents 50 companies from Nifty 100 after excluding the Nifty 50 companies.
The changes will come into effect from March 31, 2017, as per an announcement made by India Index Services & Products (IISL), an NSE group company that manages Nifty group of indices.
IDFC Bank will replace Bank of India in the Nifty Bank index.
The periodic review has also effected changes in other indices such as Nifty 500, Nifty Midcap 150, Nifty Smallcap 250, Nifty MidSmallcap 400, Nifty Midcap50, Nifty Full Midcap 100, among others.