Leading bourse NSE has announced changes in five indices including Alpha 50, High Beta 50 and Low Volatility 50 as part of its quarterly review.
Nifty 100 Low Volatility 30 and Nifty Midcap Liquid 15 index will also see changes.
The changes will become effective from May 26, NSE said in a circular.
Under the changes, Bank of India, Dewan Housing Finance Corporation, Federal Bank, Infibeam Incorporation, Lakshmi Vilas Bank, JM Financial, MRF, Natco Pharma, Sun TV Network, Mangalore Refinery & Petrochemicals and Rural Electrification Corporation will be included in Nifty Alpha 50 index.
While Tata Motors, Tata Steel, Grasim Industries, Bharat Financial Inclusion, Capital First, GHCL, Godrej Consumer Products, Mahindra & Mahindra Financial Services, Marico, SRF and Sundram Fasteners will move out of the index.
Further, Delta Corp, Edelweiss Financial Services and JM Financial will enter Nifty High Beta 50 index replacing Ashok Leyland, PTC India and Wockhardt.
In the Nifty Low Volatility 50 index, Biocon, Grasim Industries and Petronet LNG will exit from the index. In their places, ONGC and Tata Power Company and Karur Vysya Bank will be added.
HCL Technologies will replace Grasim Industries in the Nifty 100 low volatility 30 index and Exide Industries would find a place in Nifty Midcap Liquid 15 index replacing Sun TV Network from the index.