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Mumbai, March 7

FTSE Global Equity Index Services at its annual review of the Asia Pacific (ex-Japan) indices has included Indian companies Cipla and Siemens India in its large cap index while excluding MTNL from the segment.

In the FTSE medium cap index, Reliance Capital, MTNL, Infrastructure Development Finance Company and UTI Bank found place while Cipla (which moved into the large cap index), Motor Industries and Polaris Software Lab exited, according to a FTSE press statement.

In the FTSE small cap index for Asia Pacific (ex-Japan), the new entrants from India are Gammon India, Hindustan Construction, McDowell & Co, Gateway Distriparks, Nagarjuna Construction, Yes Bank, SRF, IVRCL Infrastructure, Radico Khaitan, Polaris Software (earlier including in the mid cap index), Carborundum Universal and Aftek Infosys.

The excluded companies in the small cap index are Siemens India, Reliance Capital, UTI Bank, Torrent Power, P & G and Monsanto India.

In the FTSE All World index, the new entrants from India are Siemens India, Reliance Capital, IDFC and UTI Bank while Motor India and Polaris Software went out , the release available on the FTSE Web site said.

In the FTSE All Cap index, the new entrants from India are IDFC, Gammon India, Hindustan Construction, Gateway Distriparks, McDowell & Co, Nagarjuna Constructions, Yes Bank, SRF Ltd., IVRCL, Radico Khaitan, Carborundum Universal and Aftek Infosys, it said. The excluded companies from the country are Motor India, Procter & Gamble Hygiene, Monsanto India and Torrent Power.The changes in the indices were made by the FTSE Asia Pacific Regional Committee at its meeting on February 28. The changes will come into effect after close of business on March 17. (i.e. on Monday, March 20). The review has been carried out following the liquidity rule, whereby 3 per cent of shares need to be traded for 10 out of the 12 months for potential new constituents and 1 per cent of shares traded for 8 out of 12 months for existing constituents, it said.

(This article was published in the Business Line print edition dated March 8, 2006)
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