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Business News/ Money / NSE to remove Satyam from Nifty
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NSE to remove Satyam from Nifty


NSE to remove Satyam from Nifty

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Mumbai: India’s National Stock Exchange said on Wednesday it will remove Satyam Computer Services Ltd from its S&P CNX Nifty 50-share index from 12 January.

The head of the Indian outsourcing firm resigned on Wednesday, disclosing profits had been falsely inflated for years, sending its shares crashing nearly 80%.

The exchange did not give any reason for the change.

Anil Ambani-group firm Reliance Capital Ltd will replace Satyam in the main index, the exchange said in a statement. Satyam will also be excluded from the CNX 100 index, CNX 500 index and the CNX IT index.

Satyam is a component of the Bombay Stock Exchange’s main 30-share index, the country’s benchmark index. The BSE has not made any statement on Satyam as yet.

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Published: 07 Jan 2009, 07:43 PM IST
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