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Our Bureau

Mumbai, Jan. 8 The BSE on Thursday removed Satyam Computer Services from its benchmark Sensex and other indices. NSE had also removed Satyam from its indices, including Nifty 50.

The action by the stock exchanges follows the steep fall of Satyam stock on Wednesday..

BSE has not given any reason for its action but a spokesperson said the drop in market cap, and issues regarding corporate governance were the among the reasons for removing the scrips from the indices.

On the BSE, the scrip has been excluded from the BSE 100, 200 and 500. In the Sensex, Satyam has been replaced by Sun Pharmaceuticals, in the BSE 100 by GlaxoSmithKline, in BSE 200 by Castrol India and in BSE 500 by Cadila Healthcare.

The scrip has been excluded from the BSE Teck and IT indices as well. The stocks have been selected by the BSE Index Committee on various criteria, including the liquidity position, corporate governance, market capitalisation and transparency, the spokesperson said.

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