IREDA’s stock price experienced a decline of 1.6% during Wednesday’s trading session following NSE’s decision to remove it from various indices, including Nifty 500, Nifty Midcap 150, Nifty Midcap 100, Nifty 200, Nifty LargeMidcap 250, Nifty MidSmallcap 400, and Nifty Total Market.
As per an announcement by the NSE, the Committee has rescinded its earlier resolution to include IREDA, which was declared on February 28, 2024. This action was taken due to a violation of the SEBI Portfolio Concentration Norms for Equity Exchange Traded Funds (ETFs) and Index Funds related to impact cost.
