Telecom player Tata Communications and textile major Arvind Ltd will move out from NSE’s Nifty Midcap 50 from 29 June. In their place, Indian Bank and National Aluminium Co. Ltd would be included in the index.
The changes, announced by India Index Services and Products Ltd (IISL), an arm of National Stock Exchange today, will be effective from 29 June 2018.
The index captures the movement of the midcap segment of the market. It includes top 50 companies based on full market capitalisation from Nifty Midcap 150 index and on which, derivative contracts are available on the National Stock Exchange (NSE).
Further, Tata Communications would be excluded from NSE’s Nifty Infrastructure index, while Torrent Power would be included in the index.