Wipro, Siemens to exit Nifty tomorrow - Times of India

The author has posted comments on this articlePTI | Mar 31, 2013, 10.57AM IST MUMBAI: IT major Wipro and diversified group Siemens will exit the National Stock Exchange's benchmark index Nifty tomorrow. The two stocks would be replaced by private sector lender IndusInd Bank and state-run mining giant NMDC in the 50-share benchmark index of the National Stock Exchange (NSE), as per an exchange circular. Nifty is managed by India Index Services & Products Ltd, an NSE-Crisil joint venture, which has decided to drop Wipro and Siemens as part of its periodic index review exercise. Wipro is undertaking a business restructuring exercise, which includes hiving off its non-IT businesses into a separate unit. In November last year, the Wipro board approved demerger of the non-IT businesses — Wipro Consumer Care & Lighting (including furniture business), Wipro Infrastructure Engineering (hydraulics and water businesses) and Medical Diagnostic Product & Services — into a privately held company to be named 'Wipro Enterprises Ltd'. While Wipro Ltd will continue to remain a publicly listed company with exclusive focus on IT business, Wipro Enterprises would be an unlisted company. via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNHgnWqRx27_JuuJO2jLQKF0GvR-ig&url=http://timesofindia.indiatimes.com/business/india-business/Wipro-Siemens-to-exit-Nifty-tomorrow/articleshow/19303256.cms

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