Shree Cement shares up over 2 pc on inclusion in Nifty 50 index

Shares of Shree Cement Ltd rose over 2 per cent on Wednesday as the stock is set to enter the Nifty 50 index from next month.

NSE Indices, a subsidiary of the National Stock Exchange (NSE) on Tuesday said that Shree Cement will replace private lender Yes Bank in the benchmark index Nifty 50 from March 27.

On the BSE, the stock opened on a bullish note at Rs 25,000 then gained further ground and touched a high of Rs 25,222.90, registering a rise of 5.98 per cent during the day.

The stock, however, pared some gains and closed at Rs 24,406.35, higher by 2.55 per cent over previous close.

On the NSE, the stock settled at Rs 24,390, up 2.58 per cent over previous close.

The stock has closed in green after settling the last six sessions in red.

In terms of volume, more than 1.5 lakh shares were traded on the NSE and 20,000 units exchanged hands on the BSE.

Moreover, the spurt in volume was more than 5.99 times during the day on the BSE.

Further, Vodafone Idea, Ashok Leyland, Indiabulls Housing Finance, L&T Finance Holdings and Shree Cement will be dropped from Nifty Next 50, as per NSE Indices.

Meanwhile, shares of Yes Bank opened weak on Wednesday at Rs 34, then lost ground and touched an intra-day low of Rs 33.60, down 4.13 per cent over its previous close.

Shares of Yes Bank closed at Rs 35.30, up 0.71 per cent over its last close on the BSE.