The Bombay Stock Exchange (BSE) has announced a major reshuffle in the composition of some of its key indices. Several second line technology shares and other thinly traded scrips have been replaced with stocks of banks, public sector enterprises and other old economy firms.
Twenty-six companies have been replaced in the BSE-100 index, 44 in the BSE-200, 94 in the BSE-500 and four companies have been replaced in the BSE TecK index. The changes would come into effect from May 26.
In BSE TecK, ETC Network, i-flex solutions, Mastek, Tata Talcum have been included, while GTL, Hughes Software, Saregama India and Sterlite Optical Technologies have been dropped.
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In BSE-100, Andhra Bank, Apollo Tyres, Arvind Mills, Ballarpur Industries, Chambal Fertilisers & Chemicals, Container Corporation of India, Engineers India, i-flex solutions, Oil and Natural Gas Corporation, Union Bank of India and United Phosphorus have replaced Abbott India, Aventis Pharma, GlaxoSmithKline Consumer Healthcare, GTL, HCL Infosystems, Himachal Futuristic Communications, Hind Lever Chemicals, NIIT, Nirma, Pentamedia Graphics, SSI, Sterlite Optical Technologies, Videocon International and VisualSoft Technologies.
In the BSE-200, Andhra Bank, Bharat Earth Movers, Ceat, Century Enka, Clariant (India), Federal Bank, Hindustan Motors, i-flex solutions, Indian Overseas Bank, Jammu and Kashmir Bank, Punjab National Bank, SKF Bearings (India), Tamil Nadu Newsprint, Tata Telecom, Tata Teleservices (Maharashtra), Union Bank of India, Voltas and Vysya Bank have replaced Birla 3M, Blue Dart Express, BPL and Burroughs Wellcome among others.