NEW DELHI: The latest round of Nifty rejig will see the exit of Hindustan Petroleum Corporation Limited and the entry of Britannia. The Index Maintenance Sub-Committee of NSE Indices has decided the replacement effective March 29, NSE said in a release.
The 50-share index is reviewed twice every year based on six-month data ending January 31 and July 31. Eligibility criteria for the newly listed securities are checked based on the data for a three-month period, instead of six months.
The last change happened in August 2018, when Lupin Ltd made way for JSW Steel. One criteria the NSE follows to select the Nifty 50 constituents is that the free-float market capitalisation of the company being considered to be included in the index should be at least 1.5 times than that of the smallest member of the index.