LTIMindtree replaces HDFC in NSE Nifty; stock jumps
July 12 was the last trading day for the stock of Housing Development Finance Corporation (HDFC).
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July 12 was the last trading day for the stock of Housing Development Finance Corporation (HDFC).
HDFC will delist from stock exchanges on July 12 due to merger with HDFC Bank. The merger with HDFC Bank Ltd got effective from July 1.
LTIMindtree will enter the elite club as HDFC shares cease to trade from July 13 due to the HDFC-HDFC Bank mega merger. The Nifty adjustment will take place on July 12 and would be effective from July 13.
HDFC Bank's merger has led to the replacement of HDFC share price on various indices by LTI Mindtree, Jindal Steel & Power, and other stocks on NSE. The changes will be effective from July 13, 2023.
This comes in the aftermath of HDFC's merger with its twin entity and country's largest private lender, HDFC Bank, coming into effect on July 1.