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    Shriram Finance to replace UPL in Nifty from March 28

    Synopsis

    According to the exchange's communication on Wednesday, Shriram Finance was included due to the highest six-month average free-float market capitalisation within the eligible universe.

    Shriram FinanceiStock
    They replace Adani Wilmar, Muthoot Finance, PI Industries, Procter & Gamble Hygiene & Health Care, and Shriram Finance.
    Mumbai: The National Stock Exchange (NSE) has replaced agrochemical company UPL with non-banking finance company Shriram Finance in the Nifty50 index, effective from March 28.

    According to the exchange's communication on Wednesday, Shriram Finance was included due to the highest six-month average free-float market capitalisation within the eligible universe.

    Over the last six months, shares of UPL have declined by 18%, whereas Shriram Finance has witnessed a rally of 26% during the same period. The removal of UPL from the Nifty50 index follows its exclusion from the Nifty 100 index.
    Shriram Finance to replace UPL in NiftyAgencies

    In the Nifty Next 50 index, Adani Power, Indian Railway Finance Corporation, Jio Financial Services, Power Finance Corporation, and REC have been included. They replace Adani Wilmar, Muthoot Finance, PI Industries, Procter & Gamble Hygiene & Health Care, and Shriram Finance.



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    (You can now subscribe to our ETMarkets WhatsApp channel)

    (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2024 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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