LTI MIndtree To Replace HDFC In Nifty50: LTI Mindtree, the IT company of Larsle & Toubro (L&T), is going to be a part of the National Stock Exchange’s index Nifty50 from July 13. LTI Mindtree is going to replace Housing Finance Company HDFC in Nifty50. Trading in HDFC stock will cease from July 13, 2023.
On Tuesday, July 4, a notification has been issued by the National Stock Exchange. In this notification, NSE said that, the Index Maintenance Sub-Committee of NSE has decided to replace the stocks in different indices after the merger of HDFC Bank with HDFC Bank, which is July 13, 2023 (after the closing of July 12). will come into effect from
From July 13, 2023, LTI Mindtree will be included in Nifty 50 in place of HDFC. Apart from Nifty50, Nifty50 will also be applicable in Equal Weight Index. Stocks of 50 different companies from 13 sectors have been included in Nifty50. Which is used for benchmarking fund portfolios, index based derivatives and index funds. LTI Mindtree will replace HDFC in the Nifty service sector as well.
Jindal Steel & Power is replacing HDFC in Nifty 100. And Jindal Steel & Power will replace LTI Mindtree in Nifty Next 50. Mankind Pharma is replacing HDFC in Nifty 500. At the close of trading on Tuesday, HDFC stock closed at Rs 2884 with a market cap of Rs 5.34 lakh crore. While LTI Mindtree has closed at Rs 5250 with a market cap of Rs 1.55 lakh crore.
In fact, from July 1, 2023, HDFC has merged with HDFC Bank and on July 12, HDFC shares will be traded for the last time in the Nifty 50 index. At the same time, it is believed that after the merger from July 17, the stock of the new HDFC Bank will trade in the market.
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