Tata Consumer to Take Gail India's Position in Nifty 50 from March 31

Tata Consumer Products are expected to be a part of benchmark index Nifty50 soon. The company has met the criteria that are required for inclusion in the index.

The Index Maintenance Sub-Committee (Equity) of NSE Indices has come to a conclusion to exclude GAIL India, the state-owned natural gas processing and Distribution Company, from the Nifty50 and embrace Tata Consumer Products, in the benchmark index.

This changes would come to effect from March 31, 2021, states the exchange in its circular that has been released on February 23.
The Index Maintenance Sub-Committee has also announced the other changes in several other indices that include Nifty Next 50, Nifty 500, Nifty 100, Nifty Midcap 150, Nifty Smallcap 250, Nifty Midcap 50, Nifty Midcap 100, Nifty Smallcap 50, Nifty Smallcap 100, Nifty 200, Nifty LargeMidcap 250 and Nifty MidSmallcap 400, which would be effective from the same date.

The changes would also take place in sectoral indices that include Nifty Bank, Nifty Financial Services, Nifty Healthcare, Nifty Consumer Durables, Nifty Media, Nifty IT, Nifty Metal, Nifty Private Bank, Nifty PSU Bank, Nifty Realty, Nifty Oil & Gas, Nifty Infrastructure and Nifty Services Sector.

Adani Enterprises, Vedanta , GAIL (India), Jubilant Foodworks, MRF, Apollo Hospitals Enterprise, and Yes Bank would replace Bank of Baroda, Container Corporation of India, General Insurance Corporation of India, Hindustan Zinc, Oracle Financial Services Software, Power Finance Corporation and Tata Consumer Products in the Nifty Next 50 index.

AU Small Finance Bank would also replace Bank of Baroda in the Bank Nifty, while Muthoot Finance would swap the Bajaj Holdings & Investment. Oracle Financial Services Software might replace Info Edge India in the Nifty IT index. The Index Maintenance Sub-Committee has also made some changes in the index maintenance guidelines, criteria and methodology.