NSE launches three new group indices
The National Stock Exchange (NSE) has launched three separate indices on three corporate houses of India viz. Tata, Aditya Birla and Mahindra Group.
The first of its kind three separate indices based on corporate houses have been designed to reflect the performance of companies belonging to the respective corporate group. Each of three indices will comprise all the companies of the respective business group.
The three separate indices are
- Nifty Tata Group Index: It includes 25 companies across 12 sectors with a total market capitalisation of 7.51 lakh crore rupees. It represents 7.83 per cent of the total market capitalisation of companies listed on the NSE.
- Nifty Aditya Birla Group Index: It consists of eight companies across seven sectors with the market capitalisation of 2.08 lakh crore rupees. It represents 2.17 per cent of the total market capitalisation of companies listed on the NSE.
- Nifty Mahindra Group Index: It consists of seven companies with a market capitalisation of about 1.64 lakh crore rupees. It represents 1.71 per cent of the total market capitalisation of companies listed on NSE.
These three indices have been created by the NSE’s group company India Index Services & Products Ltd (IISL). The company is planning to launch indices on other corporate groups and third-party products based on such indices.
Categories: Business & Economy Current Affairs 2017