State-run Coal India (CIL) will replace Anil Ambani Group firm Reliance Capital in the National Stock Exchange’s Nifty index from October 10. Earlier this month, CIL had replaced another Anil Ambani Group firm Reliance Infrastructure from BSE’s blue chip index Sensex.
Shares of CIL have been doing well since the company was listed in November last year and has become the third most valued firm after Reliance Industries and ONGC. Apart from S&P CNX Nifty Index, there would be changes in CNX Nifty Junior Index, CNX 100 Index, S&P CNX 500 Index, CNX Midcap Index and sectoral indices among others.
The changes were announced on Thursday by India Index Services & Products (IISL), a joint venture between National Stock Exchange and Crisil for managing Nifty.
The decision to revise constituents of various NSE indices was taken by the Index Committee of the Exchange during its periodic review. Meanwhile, the BSE also announced launch of futures and options trading in CIL with effect from August 26.
BSE said in a circular that it had received approval from market regulator Sebi for introduction of F&O contract on CIL. Subsequently, F&O contracts of CIL would start trading on BSE with effect from August 26.
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