State-run Coal India will replace Anil Ambani's Reliance Capital in the National Stock Exchange's Nifty 50 index from October 10.
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| Coal India Logo |
Earlier this month, Coal India had replaced another Anil Ambani group firm Reliance Infra from BSE's blue chip index Sensitive index (Sensex)
Shares of Coal India have been performing well since the company was listed in November last year and it overtook Mukesh Ambani's Reliance Industries (RIL) last week in terms of Market capitalization.
Coal India is one among the top three companies in terms of Market cap. There is a tough competition between RIL, Coal India and ONGC.
Apart from S&p CNX Nifty Index, there would be changes in Nifty Junior, CNX 100 index, S&P CNX 500 index and sectorial indices among others.
The changes were announced by India Index Services and Products Ltd. (IISL), a joint venture between National Stock Exchange and Crisil for managing Nifty.
Also, 4 other companies Bosch Ltd., Dabur India, Idea Cellular, and Reliance capital would be making their entry to Nifty Junior Index from October 10.
Entities that would move out this index include Coal India Ltd., Patni Computer Systems, Punj Lloyd and Syndicate Bank.
Also BSE announced to launch Future and Options trading in Coal India with effect from August 26.
Regards Hari " लोका समस्ता सुखिनो भवन्तु "
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