The Hindu Business Line : NSE indices revamped — Maruti, Bharti Tele included in Nifty

INDIA Index Services & Products Ltd (IISL), the company managing the indices of the National Stock Exchange (NSE), has made major changes in its seven stock indices including S&P CNX Nifty, to give a better reflection of the stock price movements.

Other than Nifty, the indices that have been changed include — CNX Nifty Junior, CNX MNC Index, CNX FMCG Index, CNX Millenium index, CNX PSE Index and CNX Service Sector Index. The company manages 12 stock indices.

IISL said in a statement that these changes have been made after the index maintenance sub-committee met for a quarterly review.

It said these changes would become effective from March 1. The stocks to be included in the S&P CNX Nifty index are Maruti Udyog and Bharti Tele-Ventures and thoseto be excluded are NIIT and GlaxoSmithKline Consumer Healthcare.

In terms of number of stocks, CNX Nifty Junior index has seen a major change with 12 stocks being replaced with new ones.

Among the key stocks included in Nifty Junior are Canara Bank, Bharat Forge, Gillette India and those removed are Himachal Futuristic Communications Ltd, GTL, Rolta and Escorts.

The next major change has been made in CNX Service Sector index with eight changes.

List of major new entrants includes Bharti Tele-Ventures, Neyveli Lignite, Canara Bank and IDBI, while the stocks exiting the index are Container Corporation of India, Indian Hotels, EIH and Apollo Hospitals. Three changes have been made in CNX MNC Index with Maruti Udyog, i-flex Solutions and AstraZenca Pharma being included, while Coates of India, Vashisti Detergent and Tata Teleservices being excluded.

Even in CNX PSE index, three changes have been made with RCF, MRPL and Bongaigaon Refinery being included and BEML, Tamil Nadu Newsprint and Papers and GMDC out. In the FMCG Index, Archies Greeting has been replaced with VST Industries.

In CNX Millennium Index, comprising companies belonging to the hi-tech sectors such as IT, telecom, media and Internet, two stocks - Sterlite Optical and Pentamedia Graphics - are replaced with Bharti Tele-Ventures and Tata Teleservices.

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