GAIL To Be Removed from NSE's NIFTY50

India's leading stock index Nifty50 will remove energy major Gail from the stocks that comprise its weightage, NSE Indices said.

The Index Maintenance Sub-Committee (IMSC) of NSE Indices decided to make the changes, as part of its periodic review.

In Gail's place, Tata Consumer Products will be included in the index from March 31, 2021.

Besides, the changes will be effected in Nifty Next50, Nifty500 amongst others.

"No changes are being made to Nifty Auto, Nifty Energy, Nifty FMCG, Nifty Pharma, Nifty Aditya Birla Group, Nifty Mahindra Group, Nifty Tata Group and Nifty Tata Group 25 per cent cap indices," NSE Indices said in a statement.

The company -- NSE Indices -- is a subsidiary of NSE, and provides a variety of indices and index related services for the capital markets.

It focuses on the index as a core product by owning and managing a portfolio of indices under the Nifty brand of NSE, including the flagship index, the Nifty50.