Ajanta Pharma to replace Aditya Birla Nuvo on NSE Nifty Midcap 50 index

Q.  Which company will replace Aditya Birla Nuvo in NSE’s Nifty Midcap 50 index from October 2015?
- Published on 24 Sep 15

a. Janta Pharma
b. Ajanta Pharma
c. Syngenta Pharma
d. None of the above

ANSWER: Ajanta Pharma
 
Ajanta Pharma will replace Aditya Birla Nuvo in the NSE Nifty Midcap 50 index from October 19, 2015. Aditya Birla Nuvo, the holding company of Aditya Birla Group, will be excluded from the index. The Index Maintenance Sub-Committee has decided to make the replacement on account of proposed scheme of arrangement for transfer by way of a demerger of Madura Undertaking of Aditya Birla Nuvo Ltd to Pantaloons Fashion & Retail Limited. Nifty Midcap 50 index comprises of stocks with an average free float market capitalisation ranging from Rs. 1,000 crore to Rs. 5,000 crore at the time of selection.

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