RCoVL to replace Tata Power in BSE reshuffle
Anil Ambani-controlled RCoVL will replace Tata Power in the Sensex, which features 30 blue chip cos, as the BSE announced a major reshuffle.india Updated: May 01, 2006 14:51 IST
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 indiceson Sunday night.
"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 a release.
The reshuffle would result in the entry of RCoVL, the second telecom firm after Bharti Televentures to have a place in the Sensex. RCoVL would be the second Anil Dhirubhai Ambani group company after Reliance Energy to find a place in the sensex.
Major inclusions in the BSE 100 are Bajaj Hindustan, Balrampur Chini Mills, besides state-run Bharat Earth Movers Ltd, Jet Airways and Reliance Natural Resources Ltd.
Some of the major companies to be dropped out 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 shall be effective from May 15, 2006, while replacements in Sensex and other indices shall come into effect from June 12, the release added.