Vodafone’s current free float market capitalization stands at Rs 36,534 crore and the stock closed today at Rs 15.83, down Rs 0.37 or 2.28% from its closing price on Thursday.
Vodafone’s exit from the Nifty 500 follows 26 other stocks that have been excluded from the index. Other stocks that have been removed from the index include: Vaibhav Global, Aether Industries, Allcargo LogisticsAnupam Rasayan, Borosil Renewables, CSB Bank, Foreign Minister Shreram, JK paper, KRBL, MTAR Technologies and Restaurant brands in Asia.
Tata Group’s lifestyle company Trento (TRENT) and state Bharat Electronics (BEL) are the latest additions to the Nifty 50 index, while LTI Mindtree (LTIM) and Divi’s Laboratories have made an exit.
The Index Maintenance Sub-Committee (Equity) of NSE Indices on Friday made the changes in the 50-share index and the same will come into effect from September 30, 2024 (closing date September 27, 2024). In the Nifty Next 50, the inclusions will be Bharat Heavy Electrical Products (BHEL), Divi’s Laboratories, JSW Energy, LTIMindtree, Macrotech Developers, NHPC, Union Bank of India, while the exclusions will be Berger Paints India, Bharat Electronics, Colgate Palmolive (India), Marico, SBI Cards and Payment Services, SRF and Trent.PSU stock. Canara Bank has entered the Nifty Bank index at a cost of Bandhan Bank as part of the half-yearly restructuring. Canara Bank’s average free float market capitalisation stood at Rs 38,973 crore for the six-month period, as against Bandhan Bank’s Rs 15,945 crore.
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