Tata Consumer Products: Shares of Tata Group company Tata Consumer Products reached their 1-year high in trading on Wednesday 24 February. The stock was up more than 1 percent and it reached the level of Rs 654. Earlier on Tuesday, the stock closed at Rs 627. Ally from March 31, the company will be included in the shares of Nifty 50. Since this news, investors’ sentiment regarding the stock has strengthened. On 31 March, where Tata Consumer Nifty will be included in 50, GAIL India will be excluded from the index. This information has been received from the National Stock Exchange (NSE).
GAIL will be out
Tata Consumer Products is going to be included in this index of heavyweights for the first time. This will be the 5th company of the Tata group, which is going to join the Nifty. Tata Motors, Titan Company and Tata Steel are already in the index. At the same time, the 18-year journey in the NIFTY 50 index of Gas Authority of India, ie Gail India, is going to end. This company was included in the top index of the country for the first time in May 2003.
These companies will also be involved
Companies from the Nifty Next 50 Index, or Nifty’s 51 to 100 top companies, will be included in the top 50 companies of the Nifty 50 i.e. NSE, among them Tata Consumer Products, Bank of Baroda, Container Corporation of India, General Insurance Corporation of India, Hindustan Zinc, Oracle Financial Services Software, Power Finance Corporation.
At the same time, shares of Adani Enterprises, Apollo Hospitals Enterprise, GAIL (India) Limited, Jubilant Foodworks, MRF, Vedanta and Yes Bank will join the Nifty Next 50 Index. These changes will be effective from 31 March 2021. This will happen due to a change in the index maintenance guidelines.
These companies out of the Nifty 500
While many companies like Bombay Dyeing & Manufacturing Company Limited, CARE Ratings Limited, Chennai Petroleum Corporation Limited, DB Corp Limited, ESAB India Limited, Gujarat Mineral Development Corporation Limited, Hathaway Cable & Datacom Limited, Heritage Foods Limited will be excluded from the Nifty 500 Index.