New Delhi: Indiabulls Housing Finance Ltd will be replaced by Nestle India Ltd in the benchmark Nifty 50 Index from 27th September. Similar change will take place on the Nifty 50 Equal Weight Index, the National Stock Exchange said in a circular.
The move comes up in light of the fact that Indiabulls Housing Finance has lost 64 percent in the last year and Nestle India ltd’s share price has jumped 23-fold over the last 10 years.
The indices are reconstituted every six months basis data for six months concluding in January and July.
Most housing finance companies have been struggling with liquidity issue since last year and have not performed very well on the stock market.