Shares of JSW Steel hit a new high of Rs 409, up 2%, extending its Wednesday’s 9% surge on the National Stock Exchange (NSE), after the announcement of its entry in Nifty 50 index from September 28.
According to a press release on Tuesday, the steelmaker will replace pharmaceutical firm Lupin in the benchmark Nifty, with effect from September 28. The inclusion of JSW Steel is expected to boost the steelmaker’s stock, given that several exchange-traded funds (ETFs) track the Nifty index.
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