Adani Power, NHPC to be removed from IPO Index

The Bombay Stock Exchange (BSE) today in an announced that Adani Power and NHPC will be removed from the BSE IPO Index from September 12, 2011. Adani Power closed down over 1% at Rs 88 and NHPC closed at Rs 23.80 on the BSE today.

As per the guidelines, a company will be excluded from the index on the second Monday of the month after completion of two years of listing.

On account of Shariah non-compliance, Motherson Sumi Systems and Grasim Industries will be excluded from BSE TASIS Shariah 50 Index. Mothersom Sumi closed up over 5% at Rs 205.80 today and Grasim was down over 2% at Rs 2,151.75.

Change in constituents is made on the basis of guidelines governing inclusion and exclusion of companies from BSE Indices.