Stocks

Coal India, Sun Pharma to enter Sensex on Monday

PTI Mumbai | Updated on August 07, 2011 Published on August 07, 2011

State-run Coal India and drug maker Sun Pharma will enter the coveted league of 30 Sensex companies on Monday, ending an over five-year journey of the Anil Ambani group firms Reliance Communications (RCom) and Reliance Infra (R-Infra). The exit of the two has left the Anil Ambani group unrepresented in the Sensex.

The Bombay Stock Exchange (BSE) had decided in May 2006 to include RCom into its key 30-scrip index, Sensex, with effect from June 12 that year. This was within months of the company getting listed on the exchange on March 6, 2006.

At that time, RCom became the second Anil Ambani Group company after Reliance Energy, now known as Reliance Infra, to enter the key market index. From the BSE data, the exact date of Reliance Energy’s inclusion into Sensex could not be ascertained.

RCom and R-Infra ended their Sensex journey on Friday on a downbeat note, with their share prices falling by over seven per cent - much higher than the benchmark index’s 2.2 per cent fall.

RCom fell 7.16 per cent to Rs 92.10 in a weak market, while R-Infra plunged by 7.43 per cent to Rs 523.80 a piece.

At the same time, Coal India recorded a marginal decline of 0.34 per cent to Rs 392.35 and Sun Pharma slipped 0.47 per cent to Rs 497.70 at the BSE on Friday.

The 30 stocks currently listed on Sensex include Reliance Industries from Mukesh Ambani group, four Tata group companies - TCS, Tata Steel, Tata Power and Tata Motors and two from Deepak Parekh-led HDFC group; HDFC and HDFC Bank.

PSUs like ONGC, NTPC, SBI and BHEL, IT firms Infosys and Wipro, automakers Maruti, Hero Honda, M&M and Bajaj Auto, banking major ICICI Bank, and firms like Bharti Airtel, ITC, L&T, HUL, Jindal Steel, Hindalco, Sterlite Industries, Cipla, DLF and Jaiprakash Associates are other companies listed on Sensex .

The BSE benchmark index is the most followed barometer for the Indian stock market and the bourse reviews its 30 constituents on a regular basis.

Published on August 07, 2011
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