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Wipro, Siemens Out Of Nifty From Monday

Category: Financial Services,  News Source: Business Standard,  Updated-On: Apr 3 2013

Information Technology major Wipro and capital goods company Siemens have been replaced in the National Stock Exchange’s Nifty index from Monday, 1st April 2013.

The two stocks would be replaced by private sector lender IndusInd Bank and state-run mining giant NMDC in the 50-share benchmark index of NSE, as per an exchange circular.

The NSE had announced the changes in an exchange circular dated February 13, 201Information Technology major Wipro and capital goods company Siemens have been replaced in the National Stock Exchange’s Nifty index from Monday, 1st April 2013.

The two stocks have been replaced by private sector lender IndusInd Bank and state-run mining giant NMDC in the 50-share benchmark index of NSE, as per an exchange circular dated February 13, 2013.

Wipro is undertaking a business restructuring exercise, which includes hiving off its non-IT businesses into a separate unit.

In November last year, the Wipro board approved demerger of the non-IT businesses — Wipro Consumer Care & Lighting, Wipro Infrastructure Engineering and Medical Diagnostic Product & Services - into a privately held company to be named ‘Wipro Enterprises Ltd’. While Wipro Ltd will continue to remain a publicly listed company with exclusive focus on IT business, Wipro Enterprises would be an unlisted company.

The NSE has also made changes to fifteen other indices including ones tracking the mid and small cap companies, the auto sector as well as the service sectors.

The CNX Nifty Junior Index and the CNX 100 Index each have four changes.

The CNX 200 Index has 11 changes.

The CNX 500 index and the Smallcap index has 15 each, the CNX Midcap index has 13.

The CNX Auto Index has replaced TVS Motor Company with Amara Raja Batteries.

NMDC has replaced the National Aluminium Company Ltd. in the CNX commodities index while Bata India Ltd. has replaced Shree Renuka Sugars in the CNX Consumption Index.

Wipro is also excluded from the CNX IT Index and the CNX Service Index. Its place in the two indices have been taken by Infotech Enterprises and Tech Mahindra respectively.

Changes have also been made to the CNX Realty Index, the CNX PSE Index, the CNX MNC Index and the CNX Metal Index.

All changes were made effective from Monday, 1st April 2013.3.

Wipro is undertaking a business restructuring exercise, which includes hiving off its non-IT businesses into a separate unit.

In November last year, the Wipro board approved demerger of the non-IT businesses — Wipro Consumer Care & Lighting, Wipro Infrastructure Engineering and Medical Diagnostic Product & Services - into a privately held company to be named ‘Wipro Enterprises Ltd’. While Wipro Ltd will continue to remain a publicly listed company with exclusive focus on IT business, Wipro Enterprises would be an unlisted company.

The NSE has also made changes to fifteen other indices including ones tracking the mid and small cap companies, the auto sector as well as the service sectors.

The CNX Nifty Junior Index and the CNX 100 Index each have four changes.

The CNX 200 Index has 11 changes.

The CNX 500 index and the Smallcap index has 15 each, the CNX Midcap index has 13.

The CNX Auto Index has replaced TVS Motor Company with Amara Raja Batteries.

NMDC has replaced the National Aluminium Company Ltd. in the CNX commodities index while Bata India Ltd. has replaced Shree Renuka Sugars in the CNX Consumption Index.

Wipro is also excluded from the CNX IT Index and the CNX Service Index. Its place in the two indices have been taken by Infotech Enterprises and Tech Mahindra respectively.

Changes have also been made to the CNX Realty Index, the CNX PSE Index, the CNX MNC Index and the CNX Metal Index.

All changes are effective from Monday.

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