Havells India, electrical equipment maker, will replace Sintex Industries, in the National Stock Exchange’s Nifty Midcap 50 index from next month. According to the changes announced by India Index Services & Products (IISL), an NSE-CRISIL joint venture, Sintex Industries would be excluded from the Nifty Midcap 50 index with effect from July 26, 2013. Earlier, the exchange reported that it would exclude Sintex Industries from derivative and Securities Lending & Borrowing Scheme (SLBS) segments with effect from August 30, 2013.
Havells India is engaged in selling products in Kerala for several years and the business has shown an upward trend in terms of turnover in a short span of time. It has 10 manufacturing facilities in India in various states, including Himachal Pradesh, Uttar Pradesh and Rajasthan.
