August 28, 2017 / 12:07 PM / 7 months ago

NSE adds three members to broad Nifty 50 index, removes four

MUMBAI (Reuters) - India’s National Stock Exchange said on Monday it would add Bajaj Finance Ltd, Hindustan Petroleum Corp Ltd, and UPL Ltd to its broad Nifty 50 index, while removing four constituents.

To make room for the new entries, the exchange will remove ACC Ltd, Bank of Baroda, Tata Power Co Ltd, and Tata Motors Ltd’s deferential voting rights (DVR), according to a statement from India Index Services and Products Ltd, a unit of NSE.

With these changes, which will be effective on Sept. 29, the Nifty 50 will return to 50 constituents, after a period in which it had officially 51 members as both common shares and DVRs from Tata Motors had been included.

Reporting by Rafael Nam; Editing by Sherry Jacob-Phillips

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