NSE to make Nifty 50 as Nifty 51

 National Stock Exchange (NSE) has decided to exclude three scrips and add four scrips from the Nifty 50 index as a part of its periodic review, thereby taking the number of stocks on the index to 51.

Cairn India, Punjab National Bank and Vedanta have been excluded, while Aurobindo Pharma, Bharti Infratel, Eicher Motors and Tata Motors (DVR) have been included from the Nifty 50 Index. These changes shall become effective from April 1, 2016, the exchange said.
As per the decision of the index policy committee, equity shares with differential voting rights (DVR) shall be eligible to be included in the indices as an additional security subject to the fulfilment of eligibility criteria. On account of inclusion of Tata Motors DVR, the Nifty 50 index shall have 51 securities.

India Index Services and Products (IISL), a group company of the NSE has also announced new structure of the Nifty broad market indices. The existing index structure is enhanced to efficiently represent the large, mid and small market capitalisation segments of the Indian capital market. The new structure constitutes 11 indices, of which five are new indices launched by IISL. The change in constituents of existing indices and publication of new indices will be effective from April 1, 2016, the exchange said.

The new indices include Nifty Midcap 150, Nifty Smallcap 250, Nifty Full Midcap 100, Nifty Full Smallcap 100 and Nifty Smallcap 50 apart from the existing six indices, the exchange added.