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Shares of JSW Steel gained nearly 2 percent in the early trade on Friday as company is going to replace Lupin in the benchmark NSE Nifty 50 index w.e.f September 28.
The NSE announced the exclusion of Lupin from the Nifty index, while it will be replaced with JSW Steel on the benchmark 50-share index.
The changes were announced by the index maintenance sub-committee (IMSC) of NSE Indices (formerly known as India Index Services & Products Ltd. - IISL). The indices are periodically reviewed based on several parameters.
Further, it also said the changes will be applicable to Nifty 50 Equal Weight index
At 09:16 hrs JSW Steel was quoting at Rs 405.50, up 1.26 percent, while Lupin was quoting at Rs 897.35, up 0.06 percent on the BSE.
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