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The BSE’s list of indices has expanded to include the S&P BSE India Manufacturing Index, a measure to track trends in domestic production and manufacturing activity.
Constituents of the index include M&M, L&T, Tata Motors, Reliance Industries, Tata Steel, Hindalco, Cipla, ITC, BHEL, Maruti Suzuki and Hero MotoCorp.
Launched on Wednesday by Asia Index Pvt Ltd, a joint venture between S&P Dow Jones Indices and the BSE, the index is designed to provide liquid investment exposure to India’s top 30 manufacturing and production companies, according to a press release from Asia Index.
The constituents are selected from the S&P BSE Large MidCap Index, a sub-index of the S&P BSE AllCap Index. The stock must have a listing history of at least six months, according to BSE. The index is calculated real-time. Ashishkumar Chauhan, MD & CEO, BSE, said in the statement, “We are excited to launch the index at a time when the manufacturing sector in India has renewed interest among investors locally as well as globally. With the government’s renewed focus on increasing manufacturing in the country, the new index will aid investors with a better tool to gauge the manufacturing and production activities.”
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