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NSE Indices has launched a quality-factor based smart-beta mid-cap index — Nifty Midcap150 Quality 50. The index, based on free-float market capitalisation, includes top 50 companies from Nifty Midcap 150 index, selected based on their ‘quality’ scores.
The quality score for each company is determined based on return on equity, financial leverage (except for financial services companies) and EPS growth variability of each stock analysed during the previous five financial years. The base date for the index is April 1, 2005, and base value is 1000. The index composition is reconstituted on a semi-annual basis. Our Bureau
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