Govt forms Bharat-22 ETF for asset sales in 22 firms; to cover six sectors

ETF to have CPSEs, PSBs and strategic holding SUUTI

The government, on Friday, announced a new exchange traded fund (ETF), comprising stocks of 22 state-owned companies, public sector banks (PSBs), and private sector companies in which the government owns substantial stakes.

The new CPSE ETF, named Bharat-22, draws companies from six sectors. The constituents of the basket are Nalco, ONGC, IndianOil, Bharat Petroleum, Coal India, State Bank of India (SBI), Axis Bank, Bank of Baroda, Rural Electrification Corp, Power Finance Corp, Indian Bank, ITC, Larsen & Toubro (L&T), Bharat Electricals, Engineers India, NBCC (India), Power Grid Corp, NTPC, Gail (India), NHPC, NLC India (formerly Neyveli Lignite), and SJVN.

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