Axis Bank to replace Zee Ent in Nifty index

Private sector lender Axis Bank will replace Zee Entertainment Enterprises in the National Stock Exchange's benchmark 50-share index Nifty, with effect from March 27.

The Index maintenance sub-committee has decided to make changes in various indices, including Nifty, CNX Nifty Junior Index, CNX 100 Index, CNX Midcap Index, S&P CNX 500 index and other sector indices.

In the CNX Energy Index, Reliance Infrastructure would be excluded with effect from March 27 and Tata Power will take its place in the sectoral index, the circular added.

Zee Entertainment has also been excluded from the CNX 100 index along with ING Vysya Bank, Nirma and Aventis Pharma.

The NSE circular further stated that Adani Enterprises, Glaxosmithkline Pharmaceuticals, Sesa Goa and Mangalore Refinery & Petrochemicals would be included in the CNX 100 index with effect from March 27.

Further, MRF along with Hotel Leelaventure, Dredging Corporation of India and Raymond would be replaced by Areva T&D India, UltraTech Cement, Piramal Healthcare, Colgate Palmolive (India) in CNX Midcap Index.

The circular further added that Biocon would replace Sterling Biotech from CNX Pharma Index and Alstom Projects India would take the place of Ranbaxy Labs in CNX MNC Index.