HDFC Life Insurance Company share price gained 7.6 percent intraday on July 3 after a media report said that the stock will be a part of Nifty50 on the last day of July following a semi-annual review of the index.
The National Stock Exchange will remove metals and mining company Vedanta from its benchmark index and add HDFC Life Insurance, CNBC-TV18 reported. Vedanta share price fell 2.5 percent intraday.
The changes will be effective July 31, the report added.
HDFC Life Insurance Company share price was quoting at Rs 572, up 4.39 percent, and Vedanta was down 0.23 percent at Rs 106.15 on the NSE at 1412 hours.
To be included in the Nifty50, a stock should be a part of the futures and options (F&O) segment.
The NSE added HDFC Life to the F&O segment on February 28.
Edelweiss Securities had said in June that HDFC Life Insurance, SBI Life Insurance Company, Divis Laboratories and Dabur India could replace Vedanta, Zee Entertainment, Bharti Infratel and GAIL in the Nifty50 index in the next semi-annual review.
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