A rejig is happening on the Nifty 50 Index, effective 29th March.

Britannia Industries will replace state-run oil retailer Hindustan Petroleum Corporation (HPCL) to enter the Nifty 50 Index.

The replacement will also be applicable to Nifty 50 Equal Weight Index.

Following this news, Britannia initially in the opening bell session rose over 5% to Rs.3198.50 but is now in the red, down 0.16% at Rs.3040. HPCL is down 3% at Rs.221.50.