Lupin, UltraTech to replace SAIL, Sterlite in Nifty
Reuters Market Eye - Lupin (LUPN.NS) and UltraTech Cement (ULTC.NS) will be the new additions to the Nifty, the exchange said on its web site on Thursday.
The two stocks will replace Steel Authority of India (SAIL.NS) and Sterlite Industries STRL.NS as per the statement.
The changes will be effective from September 28.
Analysts say the removal of SAIL and Sterlite from the Nifty underlines the negative sentiment prevailing on the materials sector even as valuations are at multi-year lows.
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India has withdrawn the drug pricing authority's powers that allowed it to fix the prices of medicines not deemed essential, after its decision to impose price caps on more than 100 drugs in July triggered industry protests. Article