Adani Ports shares up almost 4% on Nifty inclusion

Thursday, 13 August,Mumbai: Shares of Adani Ports settled with almost 4% gains on Thursday as the company will replace state-run iron ore miner National Mineral Development Corporation (NMDC) on the National Stock Exchange’s benchmark Nifty from September 28.

Adani Ports’ scrip settled with a gain of 3.87% at Rs 334.70 on the NSE. In intra-day, it surged 4.9% to Rs 338.

Shares of NMDC, however, fell by 2.8% to end the trade at Rs 97.05.

The changes were decided by the index maintenance sub-committee as part of its periodic review, India Index Services & Products (IISL) said in a statement yesterday.

“These changes shall become effective from September 28, 2015 (close of September 24, 2015),” it added.

At the same time, Adani Ports and Special Economic Zone, Reliance Power and Union Bank of India would exit the CNX Nifty Junior index and would be replaced by Marico, NMDC and Sundaram Finance.

Shares of Reliance Power fell 6.64% to Rs 40.75 at the NSE.