Shares of Hindustan Petroleum Corporation (HPCL) fell by nearly 3 per cent Tuesday after the National Stock Exchange (NSE) said Britannia Industries will replace the oil marketing company in the Nifty50 index from March 29.
The company’s shares opened the day on a weak note and further declined 2.95 per cent to Rs 221.40 on NSE.
Shares of Britannia Industries on the other hand gained 1.20 per cent to Rs 3,085.
Britannia Industries will replace HPCL in the Nifty50 index from March 29, the NSE said on Monday.
Bajaj Holdings and Investment, Divi’s Laboratories, HDFC Asset Management Company, Hindustan Petroleum Corporation, Page Industries and United Breweries will be included in the Nifty Next 50 index, the NSE said in a release.
Besides, similar changes are made in Nifty500, Nifty 100, Nifty Midcap 150, Nifty Smallcap 250, Nifty Midcap 50 and Nifty Midcap 100, Nifty 200, Nifty Financial Services among others, the release added.