Wipro, Siemens to be excluded from Nifty from April 1; shares fall
MUMBAI (Reuters) - Shares in software service exporter Wipro Ltd (WIPR.NS) ended with losses of 3.3 percent while while power equipment maker Siemens Ltd (SIEM.NS) fell 4.7 percent on Thursday after India Index Services & Products Ltd said both companies would be removed from the Nifty on April 1.
India Index Services & Products announced the exclusion in a statement on Wednesday, adding private sector lender IndusInd Bank Ltd (INBK.NS) and iron ore producer NMDC Ltd (NMDC.NS) would be included in the Nifty index in their place.
However, NMDC shares ended up 1.2 percent while IndusInd rose 0.15 percent.
(Reporting by Rafael Nam; Editing by Subhranshu Sahu)
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Wipro posted a 29 percent rise in its fourth-quarter net profit, beating expectations, helped by increased IT spending by its customers. For the quarter ended March 31, the company said it earned 22.27 billion rupees compared with 17.29 billion rupees a year earlier.. Full Article | Full Coverage