LTI Mindtree to replace HDFC on Nifty 50 benchmark with effect from 13 July after HDFC Bank takeover

livemint.com:

HDFC Bank, the NSE Indices on Tuesday announced replacement against HDFC share price on its indices. On the mainboard Nifty 50, tech player LTI Mindtree will replace the housing finance giant with effect from July 13, 2023. Not just that, many other stocks will be replacing HDFC on several indices on NSE including Financial Services, Nifty 200, Nifty 500 and Services Sectors among others.  In a notification on Tuesday, NSE said, "The Index Maintenance Sub-Committee (Equity) of NSE Indices Limited has decided to make replacement of stock in various indices as listed hereunder on account of scheme of amalgamation of Housing Development Finance Corporation (HDFC) with HDFC Bank.

These changes shall become effective from July 13, 2023 (close of July 12, 2023)." Hence, Nifty 50, which is the major benchmark of NSE including 50 large-cap stocks, will welcome LTI Mindtree in place of HDFC from July 13, 2023. This would also apply to the Nifty50 Equal Weight Index. LTI Mindtree has also replaced HDFC in Nifty Services Sector.

Further, on Nifty 100, metal giant Jindal Steel & Power (JSPL) will replace HDFC and the same will be applicable on the Nifty100 Equal Weight index. With LTI Mindtree entering Nifty 50, the stock will be replaced by JSPL on Nifty Next 50. Also, Mankind Pharma will replace HDFC on Nifty 500, Nifty 200, Nifty LargeMidcap 250, and Nifty Total Market.