Bank of Baroda, Tata Power shares fall up to 3% on exclusion from Nifty1 min read . Updated: 29 Aug 2017, 05:52 PM IST
The scrip of Bank of Baroda slipped 2.91% to Rs140.05, Ta ta Power fell 2.4% to Rs76.95, Tata Motors DVR declined 2.19% to Rs220.25 as these companies will move out of the Nifty 50 index
New Delhi: Shares of Bank of Baroda, Tata Power, Tata Motors DVR and ACC Ltd fell up to 3% lower on Tuesday as these companies will move out of the NSE’s benchmark Nifty 50 index from 29 September.
The scrip of Bank of Baroda slipped 2.91% to Rs140.05, Tata Power fell 2.4% to Rs76.95, Tata Motors DVR declined 2.19% to Rs220.25, and ACC lost 0.78% to Rs1,801.50 on NSE. Tata Motors that carry differential voting rights (DVRs) will move out of the NSE’s benchmark Nifty 50 index from 29 September.
The other three companies that will be dropped from the index are Tata Power, ACC Ltd and Bank of Baroda, Indian Index Services and Product (IISL), an arm of NSE, said in a statement yesterday. In their places, Bajaj Finance, Hindustan Petroleum Corporation and UPL will be included in the index.
Shares of Hindustan Petroleum Corporation rose 0.78% to ₹ 466.95 and UPL went up 0.12% to ₹ 840.15.
Bajaj Finance, however, fell by 3% to Rs1,773.40. Apart from Nifty 50, the exchange has made changes to several indices, including Nifty Next 50, Nifty 500, Nifty 200, Nifty 100, Nifty Midcap 150, Nifty Smallcap 250, Nifty Midcap 50, Nifty Full Midcap 100, Nifty Smallcap 50 and Nifty Full Smallcap 100.
Besides, changes have been done in sectoral indices such as metal, IT, private bank, PSU bank, realty, commodities, infrastructure and services, among others.