Leading index provider Asia Index today decided to add 13 companies including Inox Wind, Adani Transmission, Manpasand Beverages and Adlabs Entertainment on S&P BSE AllCap, Midcap and SmallCap indices, from March 21.
VRL Logistics, PNC Infratech, Minda Corporation, UFO Moviez India, Kaya, Majesco, MEP Infrastructure Developers, V B Industries and Synergy Bizcon are other companies to be included on the three indices.
At the same time, Vandan Knitwear would be shifted out of the these indices from March 21.
Asia Index has also replaced 17 stocks including Eicher Motors, LIC Housing Finance, Wockhardt, Cummins India, MRF, Bajaj Finserv, Alstom T&D India on the S&P BSE Momentum Index.
These 17 firms have been replaced by Reliance Industries, Petronet LNG Ltd, Bharat Petroleum Corp, Indian Oil Corp, Apollo Hospitals Enterprise, Zee Entertainment Enterprises and Godrej industries, among others.
S&P BSE Momentum Index is designed to measure performance of the 30 companies in the S&P BSE LargeMidCap that exhibit the most persistence in their relative performance, measured by their risk adjusted price momentum score.
Besides, Asia Index has reconstituted the stocks on various other indices including S&P BSE Industrials Index, S&P BSE Consumer Discretionary Goods & Services Index, S&P BSE Fast Moving Consumer Goods Index, S&P BSE Finance Index, S&P BSE Information Technology Index and S&P BSE Utilities Index.
Three companies -- Sunstar Realty Development, Channel Nine Entertainment and HPC Biosciences have been dropped from the S&P BSE SME IPO index.
The move, is part Asia Index' semi-annual reconstitution results for the S&P BSE indices.
The changes would be made "effective at the open of Monday, March 21, 2016," Asia Index said in a notice.
