Tata Consumer Products to replace GAIL in Nifty50

Tata Consumer Products to replace GAIL in Nifty50

Shares of Tata Consumer Products witnessed frenzied buying as the multinational consumer goods company is set to enter the Nifty 50 index from March 31, while GAIL (India) will be excluded from the index.
Seven stocks Bank of Baroda, Container Corporation of India (Concor), General Insurance Corporation of India, Hindustan Zinc, Oracle Financial Services Software, Power Finance Corporation, and Tata Consumer Products will be excluded from the Nifty Next 50 index. Adani Enterprises, Apollo Hospitals Enterprise, GAIL (Indi, Jubilant Foodworks, MRF, Vedanta, YES BANK will be included in the index.

Bombay Dyeing & Manufacturing Co. Ltd, CARE Ratings Ltd, Chennai Petroleum Corporation Ltd, D.B.Corp Ltd, ESAB India Ltd, Gujarat Mineral Development Corporation Ltd, Hathway Cable & Datacom Ltd, Heritage Foods Ltd are some of the stocks that will be excluded from NIFTY 500 Index.
Meanwhile, the Tata group company had reported a consolidated net profit of Rs 237 crore in October-December quarter, while its total income stood at Rs 3,089 crore.
The changes in index are part of a periodic review conducted by the Index Maintenance Sub-Committee.

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