The National Stock Exchange (NSE) has launched 3 new separate indices on 3 corporate houses of India viz. Tata, Aditya Birla & Mahindra Group. The 1st of its kind 3 separate indices based on corporate houses have been designed to reflect the performance of companies belonging to the respective corporate group. Each of 3 indices will comprise all the companies of the respective business group.
The 3 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 % of the total market capitalisation of companies listed on the NSE. Nifty Aditya Birla Group Index: It consists of eight companies across 7 sectors with the market capitalisation of 2.08 lakh crore rupees. It represents 2.17 % of the total market capitalisation of companies listed on the NSE.
Nifty Mahindra Group Index:
It consists of 7 companies with a market capitalisation of about 1.64 lakh crore rupees. It represents 1.71 % of the total market capitalisation of companies listed on NSE. These 3 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 3rd party products based on such indices.
National Stock Exchange launches 3 new group indices
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