Vodafone’s current free float market capitalisation is Rs 36,534 crore and its share price closed at Rs 15.83 today, down Rs 0.37 or 2.28 per cent from Thursday’s closing price.
Vodafone was dropped from the index along with 26 other stocks that were excluded from the Nifty 500. Other stocks that were removed from the index include Vaibhav Global, Aether Industries, Allcargo Logistics, Anupam Rasayan, Borosil Renewables, CSB Bank, DCM Shriram, JK Paper, KRBL, MTAR Technologies and Restaurant Brands Asia.
Tata Group lifestyle company Torrent (TRENT) and state-run Bharat Electronics (BEL) were the latest additions to the Nifty 50 index, while LTI Mindtree (LTIM) and Divis Laboratories were exits.
The Index Maintenance Sub-Committee (Equities) of NSE Indexes on Friday made the changes to the 50-stock index, effective from September 30, 2024 (closing price on September 27, 2024). The Nifty Next 50 will add Bharat Heavy Electricals (BHEL), Divi’s Laboratories, JSW Energy, LTI Mindtree, Macrotech Developers, NHPC and Union Bank of India, while removing Berger Paints India, Bharat Electronics, Colgate Palmolive (India), Marico, SBI Cards and Payment Services, SRF and Trent. PSU stock Canara Bank joined the Nifty Bank index at the expense of Bandhan Bank, as part of the half-yearly restructuring. Canara Bank’s six-month average float market capitalisation stood at Rs 38,973 crore and Bandhan Bank’s at Rs 15,945 crore.
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