Vedanta to be dropped from Nifty 50; HDFC Life to move in

Vedanta Ltd will be dropped from NSE's benchmark index Nifty 50 and other indices from July 31 on account of the company's proposed voluntary delisting. SBI Cards and Payment Services would replace Vedanta in these indices. Further, SBI Cards and Payment Services would replace HDFC Life from Nifty Next 50 index.

Vedanta Ltd will be dropped from NSE's benchmark index Nifty 50 and other indices from July 31 on account of the company's proposed voluntary delisting. In its place, HDFC Life Insurance Company will be included in the Nifty 50 index, NSE Indices, a subsidiary of the National Stock Exchange (NSE) said in a statement.

Apart from that, Vedanta will be excluded from Nifty 500, Nifty 200, Nifty 100 and Nifty LargeMidcap 250 indices. SBI Cards and Payment Services would replace Vedanta in these indices. In addition, Mishra Dhatu Nigam would replace Vedanta in the metal index.

"The Index Maintenance Sub-Committee has decided to replace Vedanta Ltd. (VEDL) from various indices on account of proposed voluntary delisting. The changes shall become effective from July 31, 2020," NSE Indices said. Further, SBI Cards and Payment Services would replace HDFC Life from Nifty Next 50 index.