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The biggest deal in Indian corporate history is not only affecting the banking world, but is also changing the face of major stock indices. We are talking about the merger of HDFC Limited (HDFC) i.e. Housing Development Finance Corporation with HDFC Bank.
Change due to biggest deal
Since HDFC Limited has been counted among the top companies according to market capitalization (MCap), after its merger, there is a need to change the indices from above. BSE has informed that HDFC Limited is now going to be replaced by JSW Steel in its 30 largest index S&P BSE Sensex. This change will be effective from July 13.
Changes in these indices of BSE as well
At the same time, Zomato is going to get the place of HDFC Limited in BSE 100 Index. BSE has told that in place of HDFC Ltd., Apollo Hospitals in BSE 50 Index (BSE 50) and JBM Auto Components Ltd. in BSE 500 Index (BSE 500) to be included. Is.
The change will be applicable from July 13
BSE said that HDFC Limited will be excluded from all its indices from 13 July. HDFC Limited’s merger with HDFC Bank has become effective from 1 July. Under the deal, July 13 has been set as the record date for allotting shares of the new combined company to the shareholders of HDFC Limited.
Place this company in Nifty 50
BSE has also informed about removal of TVS Motor Company and Apollo Tires from some indices. On the other hand, NSE also has to make changes due to this merger deal. In the National Stock Exchange’s largest index Nifty 50, HDFC Limited is being replaced by LTI Mindtree, which is a subsidiary of engineering company L&T.
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