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NSE stock index to add Indian Oil, drop Idea Cellular

Reuters
Buildings are reflected on the glass windows of the NSE (National Stock Exchange) building in Mumbai, India, December 27, 2016. REUTERS/Shailesh Andrade/Files

MUMBAI (Reuters) - India's main stock index at the National Stock Exchange (NSE) will add state-run refiner Indian Oil Corp and lender Indiabulls Housing Finance as new constituents from March 31, the exchange said on Thursday.

Telecoms company Idea Cellular and state-run Bharat Heavy Electricals will be dropped from the 50-share index, the exchange said.

Indiabulls Housing Finance shares have risen by almost 28 percent from the beginning of the year, while Indian Oil has gained nearly 16 percent.

(Reporting by Promit Mukherjee; Editing by David Goodman)