BSE restructures A group shares

MUMBAI, AUGUST 14: In a major step towards boosting trading volumes, the Bombay Stock Exchange BSE authorities have reshuffled the A' ...

MUMBAI, AUGUST 14: In a major step towards boosting trading volumes, the Bombay Stock Exchange BSE authorities have reshuffled the A8217; group shares by including 27 new scrips and dropping 26 scrips from the existing list. The changes will take effect from settlement No 26 beginning September 14, 1999.

Announcing this at a press conference here today, BSE president Anand Rathi told newspersons that reshuffling was necessitated to reflect the current market environment and to impart the facility of quot;carry-forwardquot; to more liquid scrips. 8220;Selection has been made by the Index Committee of the BSE based on several criteria,8221; he said. The 27 new scrips which have been included belong to the healthcare, information technology, oil and gas, media and housing-related industries. While 26 scrips have been dropped from the existing A8217; group, one scrip had earlier gone out due to merger of Pond8217;s with Hind Lever.

With this, the total number of scrips in the group will be 150. The market capitalisation of theA8217; group after the reshuffle stood at Rs 3,64,119 crore out of BSE8217;s total market capitalisation of Rs 5,84,788 crore.

Currently, the market capitalisation of the A8217; group is Rs 3,22,989 crore is 55.23 per cent of the BSE8217;s total market capitalisation. After the reshuffle, the A8217; group8217;s share in the market capitalisation works out to 62.27 per cent, Rathi said. The newcomers in the A8217; group are: Amara Raja Battery, Aptech, Aurobindo Pharma, BFL Software, Bata India, Bausch and Lomb, Cipla, CMC Ltd, Fujitsu ICIM, Global Telesystems, HCL Infosyst, Himachal Futurustic, Hoechst Marrion, India Cements, Indian Oil Company, ITC Agro-Tech, McDowell and Co, Navneet Publications, PSI Data Systems, Reliance Petro, Silverline Ind, Software Ind, Software Solutions, Tata Elexi, Tata Infotec, Vikas WSP, Visual Soft I and Wipro.

The outgoing securities are: Andhra Valley, Asian Hotels, Balrampur Chini, Ceat Ltd, CESC Ltd, Essar Steel, Excel Ind, Garware Poly, Garware Wall, Global Trust Bank, Godrej Soaps, GujAlkalies, Hind Motors, Hotel Leela, IFCI Ltd, Industrial Oxygen,ITC Hotels, Nagarjuna Fert, SKF Bearings, SPIC, Swaraj Engines, TPL, Tata Hydro, UTI M Gain, UTI MasterPlus and Zuari Ind.

According to sector-wise representations, 12 of 27 new scrips belong to IT, three from healthcare, 2 each from telecom, food and beverages and miscellaneous, two from oil and gas while one belongs to the consumer non-durables and one from capital goods. Rathi said the BSE has showed signs of regaining the pride by surpassing the total turnover of the NSEss. Rathi, however, said that surpassing the 8220;daily turnover is certainly not the achievement of the bourse, but it will certainly show continuous rise in the business volume in the coming days. He claimed that the BSE8217;s delivery percentage has always remained higher at 35.

BSE card value rises to Rs 1.75 cr

MUMBAI: The value of BSE membership card has seen considerable rise in the recent weeks. The BSE card value which was steady at about 1.50 crore forthe last couple of months had gone up to Rs 1.75 crore on August 12. The card value which was Rs 1.46 crore on June 24 of this year shot up to Rs 1.61 crore on July 29, over the period of a month and has recorded a rise of another Rs 10 lakh now.

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According to a BSE release, the card value had gone up when the governing board accepted a bid of Rs 1.75 crore for sale of a defaulter members8217; card in the meeting held on August 12, 1999.