The Hindu : Business : BSE indices reshuffled

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Tuesday, May 02, 2006

Business

Business

BSE indices reshuffled

Reliance Communication goes into Sensex

MUMBAI: Anil Ambani-controlled Reliance Communication Ventures Ltd. (RCoVL) will replace Tata Power in the Sensex, which features 30 blue chip companies, as the Bombay Stock Exchange announced a major reshuffle in its indices on April 30.

"The Index Committee of the exchange in its meeting held on April 30 has decided to revise the composition of Sensex, BSE-100, BSE-200, BSE-500, BSE Mid-Cap and BSE Small-Cap indices,'' the stock exchange said in release here.

The reshuffle would result in the entry of RCoVL, the second telecom firm after Bharti Televentures, to have a place in the Sensex.

Major inclusions in the BSE 100 are: Bajaj Hindustan, Balrampur Chini Mills, besides state-run Bharat Earth Movers, Jet Airways and Reliance Natural Resources.

Some of the major companies to be dropped from the BSE 100 are: Biocon, Great Eastern Shipping, Jindal Steel and Shipping Corporation of India.

Replacements in BSE Mid-Cap and BSE Small-Cap index will be effective from May 15, while replacements in the Sensex and other indices will come into effect from June 12.

PTI reports from New Delhi:

SEBI to probe volatility

The Securities and Exchange Board of India will probe the steep 490 point volatility in benchmark BSE Sensex on Friday last following its interim order on the IPO allotment scam.

"Today is only Monday. Yesterday and day-before were Sunday and Saturday. We shall be enquiring into it,'' SEBI Chairman M. Damodaran told PTI.

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