Bank Of Baroda, Tata Motors DVR Fall Over 2% On Nifty 50 Exclusion

Shares of Bank of Baroda, Tata Motors DVR, Tata Power and ACC Ltd fell up to 2.4 per cent on Tuesday as the companies set for an exit from the National Stock Exchange (NSE) benchmark Nifty 50 index from September 29.

The scrip of Bank of Baroda declined 2.42 per cent to Rs. 140.75, Tata Motors DVR lost 1.97 per cent to Rs. 220.75, and Tata Power dipped 1.71 per cent to Rs. 77.50 on the NSE. Shares of ACC also dipped 1.63 per cent to Rs. 1,786.05. Tata Motors that carry differential voting rights (DVRs) will move out of the NSE's benchmark Nifty 50 index from September 29.

The other three companies that will be dropped from the index include Tata Power, ACC Ltd and Bank of Baroda, Indian Index Services and Product (IISL), an arm of NSE, said in a statement on Monday.

In their places, Bajaj Finance, Hindustan Petroleum Corporation and UPL will be included in the index.

Shares of Hindustan Petroleum Corporation rose 2.63 per cent to Rs. 475.50, UPL went up 2 per cent to Rs. 856.25 and Bajaj Finance gained 0.27 per cent to Rs. 1,835.

Apart from Nifty 50, the exchange has made changes to several indices including Nifty Next 50, Nifty 500, Nifty 200, Nifty 100, Nifty Midcap 150, Nifty Smallcap 250, Nifty Midcap 50, Nifty Full Midcap 100, Nifty Smallcap 50 and Nifty Full Smallcap 100.

Besides, changes have been done in sectoral indices such as metal, IT, private bank, PSU bank, realty, commodities, infrastructure and services, among others.