By earn REDA
NSE has revoked the inclusion of the renewable energy stock in several key indices due to the company's non-compliance with SEBI portfolio concentration norms.
NSE on February 28, 2024, had announced the inclusion of IREDA in several key indices.
After NSE's move, IREDA will no longer be included in the Nifty 500, Nifty Midcap 150, Nifty Midcap 100, Nifty 200, Nifty LargeMidcap 250, Nifty MidSmallcap 400, Nifty Total Market and Nifty500 Multicap 50:25:25 indices.
IREDA's inclusion was to come into effect from March 28, 2024. Counters being excluded following IREDA’s entry will continue to remain a part of the indices. For example, V-Guard Industries, which was excluded for making place for the IREDA stock, will remain a part of the Nifty 500, Nifty Smallcap 250, and Nifty MidSmallcap 400 indices.
IREDA's MCAP stood at ₹33,650 crore
