LTIMindtree to replace HDFC on Nifty50 benchmark with effect from 13 July

LTIMindtree will replace Housing Development Finance Corporation (HDFC) in the benchmark Nifty50 index. The change will become effective from July 13 (close of July 12). The ad hoc change to the index is on account of the merger of HDFC with HDFC Bank.

Meanwhile, Jindal Steel & Power will replace HDFC in the Nifty 100 index and LTIMindtree in the Nifty Next 50 index. Further, Mankind Pharma will take the place of HDFC in the Nifty 500 index.

In total, 22 indices compiled by NSE Indices will get impacted by the merger. There won’t be any impact on HDFC on account of the exclusion as the merged HDFC Bank will assume a higher weight in the index.