Bajaj Auto To Be Sensex Constituent Again After '08 Exclusion
October 23 2010 - 4:39AM
Dow Jones News
Bajaj Auto Ltd. (532977.BY) will again be among India's top 30
companies that form the Bombay Stock Exchange's Sensitive Index, or
Sensex, after getting excluded from the benchmark on March 14,
2008.
The country's second-largest two-wheeler maker by sales will
replace cement maker ACC Ltd. (500410.BY) from Dec. 6, the bourse
said in a statement late Friday.
ACC--a unit of Swiss cement maker Holcim Ltd. (HCMLY,
HOLN.VX)--will follow Ambuja Cements Ltd. (AMBUY, 500425.BY), which
ceased to be a Sensex company from July 28, 2008, data on the BSE
website showed.
Separately, the BSE also included GlaxoSmithKline
Pharmaceuticals Ltd. (500660.BY), Zee Entertainment Enterprises
Ltd. (505537.BY), state-run lender Rural Electrification Corp.
(532955.BY) and Yes Bank Ltd. (532648.BY) in the BSE-100 Index, the
statement added.
The companies will each replace Aban Offshore Ltd. (523204.BY),
Century Textiles & Industries Ltd. (500040.BY), India Cements
Ltd. (530005.BY) and construction firm Punj Lloyd Ltd. (532693.BY)
in the gauge of 100 top Indian firms.
A company's induction into the Sensitive Index is based on
various criteria like listing history, trading frequency, market
capitalization weighting, industry representation and the company's
track record, the BSE website showed. The BSE Index Committee meets
every quarter to discuss index-related issues.
-By Ameya Karve, Dow Jones Newswires; +91-22-6145-6121; ameya.karve@dowjones.com