homemarket Newsstocks NewsHPCL shares decline by 3%, Britannia up about 1% on NSE rejig

HPCL shares decline by 3%, Britannia up about 1% on NSE rejig

HPCL shares decline by 3%, Britannia up about 1% on NSE rejig
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By PTI Feb 26, 2019 12:48:33 PM IST (Updated)

Britannia Industries will replace Hindustan Petroleum Corporation in the Nifty 50 index from March 29, the National Stock Exchange said Monday.

Britannia Industries will replace Hindustan Petroleum Corporation in the Nifty 50 index from March 29, the National Stock Exchange said Monday.

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HPCL fell nearly by 3 percent today while Britannia gained 1.20 percent to Rs 3,085 on NSE.
The Sensex is at 35,908.80 levels, down by 304.58 points while Nifty is at 10,798.80, down by 81.30 points.
The NSE in its press release also added, " Six stocks, Bajaj Holdings & Investment, Divi's Laboratories, HDFC Asset Management Company Ltd, Hindustan Petroleum Corporation, Page Industries and United Breweries will be included in the Nifty Next 50 index."
In a separate release, the bourse said that it has decided to revise the methodology of sectoral and thematic indices.
According to the revised method, all sectoral indices except for Nifty Tata Group, the weightage of each stock in the indices will be calculated based on its free-float market capitalization such that no single stock shall be more than 34 per cent and weightage of top 3 stocks cumulatively will not be more than 63 per cent at the time of rebalancing, said NSE.
 
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