Decision to Remove Triveni Power Transmission from NSE Indices

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Triveni Power to Be Removed from NSE

Highlights

NSE Indices Limited has decided to remove Triveni Power Transmission Limited from key indices effective 30 October 2026.
The change will affect the Nifty Microcap 250, Nifty Smallcap 500, Nifty Sugar & Ethanol, and Nifty Total Market indices.
Even if the company hits the lower price band on 29 October 2026, the exclusion date will not be pushed back; the rules will be applied strictly.

This article was translated from the original. Read the original version by our correspondent here.

Index Changes and Effective Date

As stated in the notice issued by NSE India, NSE Indices Limited has decided to remove Triveni Power Transmission Limited from several indices because the company's stock did not hit the lower price band on the NSE on two consecutive trading days, 27 October 2026 and 28 October 2026.

The company's inclusion in various indices was first announced in a press release dated 17 July 2026 as part of the demerger process. Following the demerger of the power transmission business from Triveni Engineering & Industries Limited, Triveni Power Transmission Limited, under the dummy symbol "DUMMYTRVN", was identified for inclusion effective 22 July 2026, based on the closing price on 21 July 2026.

Following the demerger, the company was listed on the National Stock Exchange on 12 October 2026. In line with the index methodology, the Index Maintenance Sub-Committee (Equity) of NSE Indices Ltd. has decided to remove the company from the indices effective 30 October 2026, that is, after the close on 29 October 2026.

Indices Affected and Market Context

The decision affects the Nifty Microcap 250, Nifty Smallcap 500, Nifty Sugar & Ethanol, and Nifty Total Market indices. It may affect investors and funds that track these benchmark indices and adjust their portfolios to align with the index composition.

NSE Indices Limited has also clarified that even if Triveni Power Transmission Limited hits the lower price band on 29 October 2026, the exclusion will not be postponed further. This step underscores adherence to the rules and predetermined methodology applied in managing indices following the listing of companies after a demerger.

Our previous report highlighted the listing of the equity shares of three companies, including Triveni Power Transmission Limited, on the NSE from 12 October 2026 and the related trading arrangements. It noted that Triveni Power Transmission shares would initially trade in the BE series under the scheme of arrangement and would later be transferred to the EQ series in accordance with the rules, giving investors clarity on the trading classification and settlement framework.

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