Mumbai, Aug 13
BSE Index Services Pvt Ltd, a wholly owned subsidiary of the Bombay Stock Exchange (BSE), on Wednesday, announced the launch of a new index - BSE India Defence.
The BSE India Defence index aims to track the performance of those stocks representing the defence sector, the stock exchange said.
The BSE India Defence Index is derived from the constituents of the BSE 1000 Index, weighting method that is Capped Free Float - Adj. Market Cap with the base value of 1000.
This index will not only serve as a barometer for the sector’s performance but also pave the way for new investment products and portfolio diversification opportunities, Singh added.
Earlier this week, by raising the requirement of operating profitability to Rs 15 crore for the last three fiscal years, with a minimum operating profit of Rs 10 crore in each of these fiscal years, the BSE had reinforced the eligibility requirements for SME companies looking to migrate to the mainboard.
The exchange claims that companies listed on other reputable stock exchanges that wish to directly list on the BSE, India's oldest stock exchange, will have to meet the same requirements.
The BSE stated that the action was taken to improve the quality of listings by encouraging disclosure and transparency.