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NSE shuffles Nifty 50, replaces Idea and BHEL with Indian Oil Corporation, Indiabulls Housing

The changes, announced by NSE group company IISL, are part of the index's semi-annual re-balancing.

The National Stock Exchange will replace Idea Cellular Limited and Bharat Heavy Electricals Limited with Indian Oil Corporation and Indiabulls Housing Finance Limited on its flagship Nifty 50 as part of a semi-annual index re-balancing. NSE group company India Index Services and Products Limited announced the changes on Thursday along with many others as part of the move, which is implemented based on several criteria.

On the Nifty Bank Index, Bank of India Limited will be replaced by IDFC Bank Limited. PI Industries Limited will replace Jindal Steel & Power Limited on the Commodities index, and Ratnamani Metals & Tubes Limited will replace Bhushan Steel Limited on the Metal index. Twenty-five companies will be replaced on the Nifty 500 Index, while Apollo Hospitals Enterprises Limited, Bharat Forge Limited and Castrol India Limited will be replaced by ICICI Prudential Life Insurance Company Limited, Petronet LNG Limited and Rural Electrification Corporation Limited on the Nifty 100.

Replacing Idea and Bhel with IOC and IHFL will increase the weightage of financial services and energy sectors on the Nifty 50, Bloomberg reported. While Financial services has the highest representation of all sectors with 32.01% weightage, energy is the third-highest, with 12.3%. The re-balancing takes place every six months, with the cut-off date for reviews being January 31 and July 31. A stock is replaced in a particular index either because of corporate actions or such as de-listing, or when a better performing stock is available in the replacement pool.

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In a first, some of the finest Indian theatre can now be seen on your screen

A new cinematic production brings to life thought-provoking plays as digital video.

Though we are a country besotted with cinema, theatre remains an original source of provocative stories, great actors, and the many deeply rooted traditions of the dramatic arts across India. CinePlay is a new, ambitious experiment to bring the two forms together.

These plays, ‘filmed’ as digital video, span classic drama genre as well as more experimental dark comedy and are available on Hotstar premium, as part of Hotstar’s Originals bouquet. “We love breaking norms. And CinePlay is an example of us serving our consumer’s multi-dimensional personality and trusting them to enjoy better stories, those that not only entertain but also tease the mind”, says Ajit Mohan, CEO, Hotstar.

The first collection of CinePlays feature stories from leading playwrights, like Vijay Tendulkar, Mahesh Dattani, Badal Sircar amongst others and directed by film directors like Santosh Sivan and Nagesh Kukunoor. They also star some of the most prolific names of the film and theatre world like Nandita Das, Shreyas Talpade, Saurabh Shukla, Mohan Agashe and Lillete Dubey.

The idea was conceptualised by Subodh Maskara and Nandita Das, the actor and director who had early experience with street theatre. “The conversation began with Subodh and me thinking how can we make theatre accessible to a lot more people” says Nandita Das. The philosophy is that ‘filmed’ theatre is a new form, not a replacement, and has the potential to reach millions instead of thousands of people. Hotstar takes the reach of these plays to theatre lovers across the country and also to newer audiences who may never have had access to quality theatre.

“CinePlay is merging the language of theatre and the language of cinema to create a third unique language” says Subodh. The technique for ‘filming’ plays has evolved after many iterations. Each play is shot over several days in a studio with multiple takes, and many angles just like cinema. Cinematic techniques such as light and sound effects are also used to enhance the drama. Since it combines the intimacy of theatre with the format of cinema, actors and directors have also had to adapt. “It was quite intimidating. Suddenly you have to take something that already exists, put some more creativity into it, some more of your own style, your own vision and not lose the essence” says Ritesh Menon who directed ‘Between the Lines’. Written by Nandita Das, the play is set in contemporary urban India with a lawyer couple as its protagonists. The couple ends up arguing on opposite sides of a criminal trial and the play delves into the tension it brings to their personal and professional lives.

Play

The actors too adapted their performance from the demands of the theatre to the requirements of a studio. While in the theatre, performers have to project their voice to reach a thousand odd members in the live audience, they now had the flexibility of being more understated. Namit Das, a popular television actor, who acts in the CinePlay ‘Bombay Talkies’ says, “It’s actually a film but yet we keep the characteristics of the play alive. For the camera, I can say, I need to tone down a lot.” Vickram Kapadia’s ‘Bombay Talkies’ takes the audience on a roller coaster ride of emotions as seven personal stories unravel through powerful monologues, touching poignant themes such as child abuse, ridicule from a spouse, sacrifice, disillusionment and regret.

The new format also brought many new opportunities. In the play “Sometimes”, a dark comedy about three stressful days in a young urban professional’s life, the entire stage was designed to resemble a clock. The director Akarsh Khurana, was able to effectively recreate the same effect with light and sound design, and enhance it for on-screen viewers. In another comedy “The Job”, presented earlier in theatre as “The Interview”, viewers get to intimately observe, as the camera zooms in, the sinister expressions of the interviewers of a young man interviewing for a coveted job.

Besides the advantages of cinematic techniques, many of the artists also believe it will add to the longevity of plays and breathe new life into theatre as a medium. Adhir Bhat, the writer of ‘Sometimes’ says, “You make something and do a certain amount of shows and after that it phases out, but with this it can remain there.”

This should be welcome news, even for traditionalists, because unlike mainstream media, theatre speaks in and for alternative voices. Many of the plays in the collection are by Vijay Tendulkar, the man whose ability to speak truth to power and society is something a whole generation of Indians have not had a chance to experience. That alone should be reason enough to cheer for the whole project.

Play

Hotstar, India’s largest premium streaming platform, stands out with its Originals bouquet bringing completely new formats and stories, such as these plays, to its viewers. Twenty timeless stories from theatre will be available to its subscribers. Five CinePlays, “Between the lines”, “The Job”, “Sometimes”, “Bombay Talkies” and “Typecast”, are already available and a new one will release every week starting March. To watch these on Hotstar Premium, click here.

This article was produced on behalf of Hotstar by the Scroll.in marketing team and not by the Scroll.in editorial staff.