Yes Bank to be dropped from Nifty50, yield place to Shree Cement

Mumbai, Feb 18 (IANS) Bellwether stock index Nifty50 will exclude lender Yes Bank from the stocks that comprise its weightage, NSE Indices said on Tuesday.The Index Maintenance Sub-Committee (IMSC) of the NSE decided to make the change as part of a periodic review.In its place, Shree Cement will be included in the index from March 27.Besides, the company made changes to the Nifty Next 50 index as well by excluding Ashok Leyland, Indiabulls Housing Finance, L&T Finance Holdings, Shree Cement, and Vodafone Idea. It included Adani Transmission, IDBI Bank, Info Edge (India), Larsen & Toubro Infotech and Torrent Pharmaceuticals.The NSE Indices is a subsidiary of NSE which provides a variety of indices and index related services for the capital markets.It owns and manages a portfolio of indices under the NIFTY brand of NSE, including the flagship index, the NIFTY 50. The NIFTY equity indices comprises of broad-based benchmark indices, sectoral indices, strategy indices, thematic indices and customised indices.
--IANS rv/vd