JSW Energy to be included in Nifty Midcap 50 index

Power producer JSW Energy will be included in the National Stock Exchange's Nifty Midcap 50 index, replacing Future Retail Ltd from next week.

As per the changes announced yesterday by India Index Services & Products Ltd (IISL), an NSE-Crisil joint venture, Future Retail Ltd would be excluded from the Nifty Midcap 50 index with effect from April 17, 2013.

In its place, JSW Energy, a part of Sajjan Jindal-led JSW Group, would be included in the index.

"The changes in the constituent of Nifty Midcap 50 Index will be effective from April 17, 2013," it said.

Index reviews are carried out every six months to ensure the securities in an index fulfil certain criteria such as liquidity and market capitalisation.

The Nifty Midcap 50 index, which represented about 6.28 per cent of the free float market capitalisation of the stocks listed on NSE as on December 31, 2012, consists of stocks with market valuation ranging from Rs 1,000-5,000 crore at the time of selection.