New Delhi, Shares of Apollo Hospitals Enterprise rose sharply on the National Stock Exchange on Friday as the exchange announced inclusion of the firm in its benchmark Nifty50 index.

The inclusion will be with effect from March 31.

The NSE on Thursday changed the eligibility criteria of Nifty and replacement of stocks in various indices as part of its periodic review, which will become effective from March 31.

Reportedly, the hospital service firm's shares will replace marketing company Indian Oil Corporation in the index. With the inclusion, it will be apparently the first healthcare company to become part of the index.

After rising 7 per cent during the opening session, the shares settled 5.7 per cent up at Rs 4,630.

Despite Friday's upmove, in the year-to-date period, however, the shares are down 7 per cent, exchange data showed.

In the past one-year period, it rose around 50 per cent.