HDFC-HDFC Bank merger: LTIMindtree can enter Nifty50 in place of HDFC Ltd

The merger of HDFC Bank and HDFC Ltd will be effective July 1, HDFC Chairman Deepak Parekh said on Tuesday. The boards of HDFC and the private bank will meet on June 30 to clear and approve the merger, Parekh told reporters. As per Nuvama, LTIMindtree can enter the Nifty50 index in place of HDFC Ltd, Zee Business reported. The report further said that LTIMindtree can enter the index after the ex-date of the merger.