IISL launches corporate group index series

India Index Services & Products Ltd is a subsidiary of India’s leading stock exchange NSE.

Zee Media Bureau

Mumbai: India Index Services & Products Ltd. (IISL), - a subsidiary of India’s leading stock exchange NSE, in its endeavor to expand the suit of indices for Indian capital market, on Wednesday launched indices on 3 corporate groups in India namely - Tata Group, Aditya Birla Group and Mahindra Group.

The corporate group indices are designed to reflect performance of companies belonging to the respective corporate groups. These indices are based on full market capitalization method and will include all the companies of the respective groups listed on NSE.

Nifty Tata Group Index

Nifty Tata Group Index consists of 25 companies across 12 sectors. The market capitalization of this index is about Rs. 7,51,160 crores which is 7.83% of the total market capitalization of companies listed on NSE. Additional series of Tata Group namely ‘Nifty Tata Group 25% Cap’ based on free float market capitalization with 10 constituents capped at 25% is also being launched.

Nifty Aditya Birla Group Index

Nifty Aditya Birla Group Index consists of 8 companies across 7 sectors. The market capitalization of this index is about Rs. 2,08,170 crores which is 2.17% of the total market capitalization of companies listed on NSE.

Nifty Mahindra Group Index

Nifty Mahindra Group Index consists of 7 companies across 6 sectors. The market capitalization of this index is about Rs.1,64,580 crores which is 1.71% of the total market capitalization of companies listed on NSE.

The base date of these indices is April 01, 2005 and base value is 1000. “In future, IISL may come up with indices on other corporate groups and third party products can be built on such indices” said Mukesh Agarwal, CEO, IISL. These indices will be maintained by IISL and calculated on an end-of-day basis.