Vodafone’s current free-float market capitalisation stands at Rs 36,534 crore and the stock today ended at Rs 15.83, down by Rs 0.37 or 2.28% over the Thursday closing price.
Vodafone’s exit from Nifty 500 is along with 26 other stocks that have been excluded from the index. Among other stocks which have been removed from the indes are Vaibhav Global, Aether Industries, Allcargo Logistics, Anupam Rasayan, Borosil Renewables, CSB Bank, DCM Shriram, JK Paper, KRBL, MTAR Technologies and Restaurant Brands Asia.
Tata Group’s lifestyle company Trent (TRENT) and state-run Bharat Electronics (BEL) are the latest inclusion into the Nifty 50 index while LTI Mindtree (LTIM) and Divi’s Laboratories have made an exit.
The Index Maintenance Sub-Committee (Equity) of NSE Indices on Friday made the changes in the 50-stock index and the same will become effective from September 30, 2024 (close of September 27, 2024).In the Nifty Next 50, the inclusions will be Bharat Heavy Electricals (BHEL), Divi’s Laboratories, JSW Energy, LTIMindtree, Macrotech Developers, NHPC, Union Bank of India while the exclusions will be Berger Paints India, Bharat Electronics, Colgate Palmolive (India), Marico, SBI Cards and Payment Services, SRF and Trent.PSU stock Canara Bank has entered the Nifty Bank index at the cost of Bandhan Bank as part of the semi-annual rejig. Canara Bank’s average free-float market capitalisation stood at Rs 38,973 crores over a six-month period as against Bandhan Bank’s Rs 15,945 crores.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
