There are some changes coming to the National Stock Exchange's Nifty indices from March 31.
Dilip Buildcon, Larsen & Toubro Infotech, L&T Technology Services LTTS), ICICI Prudential Life Insurance Company, Quess Corp, Mahanagar Gas, Parag Milk Foods, Thyrocare Technologies are among 25 companies who will be included in the Nifty 500 index from March 31 this year. Many of these companies, such as Dilip Buildcon, ICICIPru and Quess Corp qualify as new players, having gone IPO in 2016. Companies added to the index are typically those without too many underlying weaknesses, so that they represent their sectors in index movements effectively.
These new entrants are replacing JSW Holdings, Jaypee Infratech, Lanco Infratech, State Bank of Bikaner and Jaipur, State Bank of Mysore, State Bank of Travancore and Mahindra Lifespace Developerswhich will be moved out of the Nifty 500 index. Some of the above are state banks that are now merging with SBI. The move, the NSE said, is part of a periodic review.