Britannia Industries to replace Hindustan Petroleum in Nifty 50 from 29 March

Six stocks, Bajaj Holdings & Investment, Divi's Laboratories, HDFC Asset Management Company Ltd, Hindustan Petroleum Corporation, Page Industries and United Breweries will be included in the Nifty Next 50 index

Press Trust of India February 26, 2019 10:15:13 IST
Britannia Industries to replace Hindustan Petroleum in Nifty 50 from 29 March
  • Britannia Industries gained 1.43 percent to settle at Rs 3,056 on the bourse on Monday

  • The bourse said that it has decided to revise the methodology of sectoral and thematic indices

  • Six stocks, Bajaj Holdings & Investment, Divi's Laboratories, HDFC Asset Management, HPCL, Page Industries, UB will be included in the Nifty Next 50 index

New Delhi: Britannia Industries will replace Hindustan Petroleum Corporation in the Nifty 50 index from 29 March, the National Stock Exchange said Monday.

Shares of HPCL dropped 1.54 percent to Rs 227.40 on NSE. Britannia Industries on the other hand gained 1.43 percent to settle at Rs 3,056 on the bourse.

Six stocks, Bajaj Holdings & Investment, Divi's Laboratories, HDFC Asset Management Company Ltd, Hindustan Petroleum Corporation, Page Industries and United Breweries will be included in the Nifty Next 50 index, the NSE said in a release.

Britannia Industries to replace Hindustan Petroleum in Nifty 50 from 29 March

Representational image. Reuters

Besides similar changes are made in Nifty500, Nifty 100, Nifty Midcap 150, Nifty Smallcap 250, Nifty Midcap 50 and Nifty Midcap 100, Nifty 200, Nifty Financial Services among others, the release added.

In a separate release, the bourse said that it has decided to revise the methodology of sectoral and thematic indices.

According to the revised method, all sectoral indices except for Nifty Tata Group, the weightage of each stock in the indices will be calculated based on its free-float market capitalization such that no single stock shall be more than 34 percent and weightage of top 3 stocks cumulatively will not be more than 63 percent at the time of rebalancing, said NSE

For Nifty Tata Group, the weightage of each stock will be calculated such that no single stock will be more than 25 per cent and weightage of top 3 stocks cumulatively will not be more than 63 per cent at the time of rebalancing, bourse added.

Updated Date:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

Britannia Industries shares jump 3.5% to Rs 3,051 after company declares interim dividend
Business

Britannia Industries shares jump 3.5% to Rs 3,051 after company declares interim dividend

The board of Britannia in a meeting declared "interim dividend at 3,500 percent - Rs 35 per equity share of face value of Re 1 each - for the financial year 2019-20.

Britannia Industries stocks rise over 3% after FMCG major declares Rs 35 per share interim dividend
Business

Britannia Industries stocks rise over 3% after FMCG major declares Rs 35 per share interim dividend

On Thursday, Britannia declared an interim dividend of Rs 35 per share for 2019-20 financial year

Sensex opens over 170 points higher driven by banking, telecom stocks; Nifty above 11,900-mark in early trade
Business

Sensex opens over 170 points higher driven by banking, telecom stocks; Nifty above 11,900-mark in early trade

After hitting a high of 40,455.36 in the early session, the Sensex pared some gains to trade 58.59 points, or 0.15 percent, higher at 40,342.78, while the broader NSE Nifty advanced 14 points, or 0.12 percent, to 11,898.50