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Shree Cement rallies 5% on inclusion in Nifty50; YES Bank drops

Shree Cement will replace YES Bank in the benchmark index Nifty50 from March 27.

ETMarkets.com|
Last Updated: Feb 19, 2020, 03.57 PM IST
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Reuters
NSE-Reuters

Vodafone Idea, Ashok Leyland, Indiabulls Housing Finance, L&T Finance Holdings and Shree Cement will be dropped from Nifty Next 50, NSE Indices said in a statement.

Shares of Shree Cement advanced 5 per cent in Wednesday’s trade on inclusion in the benchmark NSE Nifty index.

Shree Cement will replace private lender YES Bank in the benchmark index Nifty50 from March 27, NSE Indices, a subsidiary of the National Stock Exchange (NSE), said on Tuesday.

Further, Vodafone Idea, Ashok Leyland, Indiabulls Housing Finance, L&T Finance Holdings and Shree Cement will be dropped from Nifty Next 50, NSE Indices said in a statement.

Adani Transmission, IDBI Bank, Info Edge (India), Larsen & Toubro Infotech and Torrent Pharmaceuticals would be added in Nifty Next 50 index. IDBI Bank was up 1.17 per cent at Rs 34.50.

NSE Indices made changes in several other indices including Nifty 500, Nifty 200, Nifty 100, Nifty Midcap 150, Nifty Smallcap 250 and host of other sectoral indices including FMCG, IT, media, pharma, commodities and services sector.

NSE Indices' Index Maintenance Sub-Committee has decided to make the replacement of stocks in various indices as part of its periodic review.

The shares of the company closed 2.55 per cent higher at Rs 24,406.35 on BSE.

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