South Indian Bank to replace Crompton in Nifty Midcap 501 min read . Updated: 25 Aug 2015, 05:29 PM IST
Crompton Greaves will be excluded from Nifty Midcap 50 with effect from 28 September 2015
New Delhi: South Indian Bank Ltd will be included in the NSE’s Nifty Midcap 50 index, replacing Crompton Greaves Ltd from next month. According to the changes announced by the India Index Services and Products Ltd (IISL), a subsidiary of NSE, Crompton Greaves will be excluded from Nifty Midcap 50 index with effect from 28 September 2015.
In addition, Crompton Greaves would be dropped from the CNX infrastructure index. Nifty Midcap 50 index consists of stocks with average free float market capitalization ranging from ₹ 1,000 crore to ₹ 5,000 crore at the time of selection.
In a separate circular, the BSE said that Alps Motor Finance Ltd would be excluded from its AllCap, SmallCap, MidSmallCap and Finance indices with effect from tomorrow. The company would be excluded from these indices due to suspension of trading in its stocks.