Shares of LTIMindtree rose 0.74% to currently trade at Rs 5,293.75 while those of HDFC slipped 3.05% to Rs 2,793.

The above replacement will also be applicable to Nifty50 Equal Weight index.

The Index Maintenance Sub-Committee (Equity) of NSE Indices decided to make replacement of stock in various indices on account of scheme of amalgamation of HDFC with HDFC Bank.

The two entities, HDFC and HDFC Bank were merged on 1 July 2023, as part of a planned merger announced in April 2022. While this was the effective date, the record date for delisting of HDFC shares from the exchanges is set for 13 July 2023. Shareholders of HDFC as on the record date will receive 42 shares of HDFC Bank (each of face value of Re 1), for 25 shares held in HDFC (each of face value of Rs 2), and the equity share(s) held by HDFC in HDFC Bank will be extinguished as per the Scheme.

Jindal Steel & Power (up 1.65%) is going to replace HDFC in the Nifty 100 index and LTIMindtree in Nifty Next 50 index.

Meanwhile, HDFC will exit from the Nifty Financial Services index while LIC Housing Finance will be included in the same.

Further, Mankind Pharma (up 1.70%) will replace HDFC in the Nifty 500 index and Jindal Steel & Power in Nifty Midcap 150 index.