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Scam-hit PNB to move out of Nifty Midcap 100 index

PNB is among the 46 companies that will be excluded from the Nifty free float Midcap 100 index

Press Trust of India  |  New Delhi 

PNB
Photo: Kamlesh Padnekar

The scam-hit (PNB) will move out of the NSE's 100 index from April.

Besides, Ambuja Cements, and will be excluded from the Nifty 50 index, while Bajaj Finserv, Grasim Industries and will find a place in the index.

The changes were announced today by and Products Ltd (IISL), an arm of the (NSE) as part of its periodic review.

"These changes shall become effective from April 2, 2018 (close of March 28, 2018), said in a notice.

is among the 46 companies that will be excluded from the Nifty free float Midcap 100 index (which will be renamed to 100) from April.

The bank's stock has been battered in the past few trading sessions following the revelations of the Rs 114 billion fraud at involving billionaire jeweller Nirav Modi and others.

That apart, Seven companies Bajaj Finserv, Tata Power, Titan Company, GlaxoSmithkline Consumer Healthcare, GlaxoSmithKline Pharmaceuticals, Glenmark Pharmaceuticals and Torrent Pharmaceuticals would be excluded from Nifty Next 50 index.

These firms would be replaced by Aditya Birla Capital, Ambuja Cements, Aurobindo Pharma, Bosch, General Insurance Corporation of India, L&T Finance Holdings and SBI Life Insurance Company.

Further, changes have been announced in Nifty 500, Nifty 200, Nifty 100, 150 and Nifty Smallcap 250 among others.

First Published: Wed, February 21 2018. 22:06 IST
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