Tech Mahindra and United Spirits will replace them in the 50-share index of the National Stock Exchange with effect from 28 March.
India Index Services & Products Ltd, an NSE-Crisil joint venture that maintains Nifty index, said in a statement on Thursday that these changes would become effective from 28 March, 2014.
A host of changes have also been made in various other indices of NSE such as CNX Nifty Junior Index, CNX 100 Index, CNX 200 Index CNX 500 Index, CNX Midcap Index and CNX Smallcap Index by its Index Maintenance Sub-Committee in a periodic review.
Besides, sectoral indices for commodities, IT, FMCG, bank, consumption, MNC, PSE, media and service would also see some changes. Shares of Ranbaxy have crashed by more than 19 per cent since the beginning of the year.
Ranbaxy has been facing a series of issues with the US Food and Drug Administration (FDA), which had last year banned drugs produced at its Mohali plant in Punjab for violation of current good manufacturing practises. Besides, USFDA last month prohibited Ranbaxy from shipping to its biggest market any pharmaceutical ingredients made at its facility in Toansa (Punjab).
The stocks being excluded from Nifty Junior index are IDBI Bank, Tech Mahindra and United Spirits, while Bharti Infratel, ING Vysya Bank and Ranbaxy Laboratories would be included in the index.
India Index Services & Products Ltd, an NSE-Crisil joint venture that maintains Nifty index, said in a statement on Thursday that these changes would become effective from 28 March, 2014.
A host of changes have also been made in various other indices of NSE such as CNX Nifty Junior Index, CNX 100 Index, CNX 200 Index CNX 500 Index, CNX Midcap Index and CNX Smallcap Index by its Index Maintenance Sub-Committee in a periodic review.
Besides, sectoral indices for commodities, IT, FMCG, bank, consumption, MNC, PSE, media and service would also see some changes. Shares of Ranbaxy have crashed by more than 19 per cent since the beginning of the year.
Ranbaxy has been facing a series of issues with the US Food and Drug Administration (FDA), which had last year banned drugs produced at its Mohali plant in Punjab for violation of current good manufacturing practises. Besides, USFDA last month prohibited Ranbaxy from shipping to its biggest market any pharmaceutical ingredients made at its facility in Toansa (Punjab).
The stocks being excluded from Nifty Junior index are IDBI Bank, Tech Mahindra and United Spirits, while Bharti Infratel, ING Vysya Bank and Ranbaxy Laboratories would be included in the index.