Mumbai, Jul 2 (IANS): Bellwether stock index NSE Nifty50 will exclude natural resources major Vedanta from July 31.

The Index Maintenance Sub-Committee (IMSC) of the NSE decided to make the change as Vedanta has proposed a voluntary delisting.

In its place, HDFC Life Insurance Company will be included in the index from July 31.

"The IMSC has decided to replace Vedanta Ltd (VEDL) from various indices on account of proposed voluntary delisting," the NSE said in a statement.

"The changes shall become effective from July 31, 2020 (close of July 30, 2020)."

The NSE Indices is a subsidiary of NSE which provides a variety of indices and index related services for the capital markets.

It owns and manages a portfolio of indices under the Nifty brand of NSE, including the flagship index, the Nifty50.

The Nifty equity indices comprises of broad-based benchmark indices, sectoral indices, strategy indices, thematic indices and customised indices.