BSE’s wholly owned subsidiary Asia Index Private Limited today announced the reconstitution results for Sensex and other indices after market hours.
Nestle India’s exit from the index comes after a period of underperformance in the stock. The FMCG stock has seen its price erode by nearly 5% over the past 1 year, underperforming Nifty which has delivered 9% returns in the same period. Meanwhile, Trent has outperformed the headline index with 15% returns in the past 12 months.
PSU defence stock BEL has given even better returns albeit with consistency. Its returns are to the tune of 35% in the last 12 months.
Meanwhile, IndusInd Bank, which has been in the news over reported frauds and accounting losses, has seen its share price tank by over 40% over a 1-year period. After reporting a net loss of Rs 2,329 crore, its first in two decades, and disclosing a suspected internal employee fraud of Rs 172.58 crore misclassified as fee income across three quarters, the stock is getting pummelled by a flurry of downgrades and target price cuts.
The reconstitution will likely result in passive inflows of $304 million for Trent while $354 million for BEL. On the other hand, Nestle and IndusInd Bank will see outflows of $220 million and $134 million respectively.
BSE 100 rejig
BSE 100 will see addition of three new stocks viz. Dixon Technologies (India), Coforge and Indus Towers while Bharat Forge, Dabur India and Siemens will make an exit.
BSE Sensex 50 rejig
Budget airline Indigo’s operator Interglobe Aviation will replace Britannia Industries while Shriram Finance will replace Hero MotoCorp.
BSE Sensex Next 50 reconstitution
Britannia Industries, Dixon Technologies, Coforge, Hero Motocorp and Indus Towers will enter this index on June 23 while Indigo, Shriram Finance, Bharta Forge, Dabur India and Siemens will exit.
BSE Bankex
Canara Bank will pave way for IDFC First Bank in this index.
