Stock Market

Power Grid to replace BHEL on Sensex from June 20

Power Grid to replace BHEL on Sensex from June 20

State-run BHEL will be dropped from the BSE’s benchmark index Sensex from June 20 and will be replaced by Power Grid Corporation of India .

Besides, Cairn India would move out from BSE 100 index, while various changes have been made to a host of other indices as well.

The BSE-100, an index of the top 100 listed companies in the country would see Bajaj Finance coming in.

The changes are announced by Asia Index, a joint venture between S&P Dow Jones Indices LLC and BSE.

Effective at the open of Monday, June 20, BHEL will exit from 30-share bluechip index and Power Grid will make an entry.

The move is a part of Asia Index’s semi-annual reconstitution results.

Moreover, as many as seven firms would be replaced on BSE 200 index, while 20 companies would be excluded from BSE 500.

Companies like Syndicate Bank, Cairn India, Indiabulls Real Estate, Oriental Bank of Commerce, UCO Bank, Allahabad Bank and Jaiprakash Associates would be excluded from BSE-200.

Those moving in BSE-200 include Jet Airways (India) Ltd, IDFC Bank, Aditya Birla Nuvo, Aditya Birla Fashion and Retail, Welspun India and Sanofi India.

Further, D B Realty and United Bank of India, Bhushan Steel, Claris Lifesciences, among others would be moved out of BSE 500, while NIIT, Coffee Day Enterprises, Narayana Hrudayalaya, Dr Lal PathLabs and Alkem Laboratories are among the stocks which would be included in the index.