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About S&P BSE India Infrastructure Index


S&P Dow Jones Indices and BSE Limited (formerly known as the Bombay Stock Exchange), on February 19, 2013, announced a collaboration to compute, disseminate and licence the widely tracked BSE indices.

S&P BSE India Infrastructure Index represents the performance of companies in the infrastructure sector listed on the BSE. The index is part of the S&P BSE index series which includes various sectoral indices to track the performance of specific industries or sectors in the Indian stock market. It also belongs to the thematic family of indices within the S&P BSE group.

The index includes a diverse range of stocks. It also consists of stocks classified as “infrastructure finance companies” by the Reserve Bank of India or those that generate significant revenue from infrastructure finance.

The constituent stocks of the S&P BSE 500 are categorised into specific infrastructure clusters namely energy, telecommunications, transportation, utilities and non-banking financial companies (NBFCs). Stocks that do not fall within any of the five infrastructure clusters are excluded.


What is the S&P BSE India Infrastructure Index?


The S&P BSE India Infrastructure Index was introduced to assess the performance of the leading 30 Indian companies engaged in infrastructure and associated activities.

As of January 20, 2024, the capital goods sector contributes significantly, accounting for 22.96% of the free float market capitalisation within the S&P BSE India Infrastructure Index. Following closely, the power sector holds a substantial share of 22.48%. The Oil & Gas sector contributes 14.96% and the transport services sector makes a significant impact with a share of 13.82% in the overall market capitalisation.

Finance represents 12.91%, the housing-related sector constitutes 7.22% of the market capitalization and utilities contribute 3.46% to the S&P BSE India Infrastructure Index. Lastly, the Other category includes 2.19% of the market capitalisation.


History


S&P BSE India Infrastructure Index was launched on May 16, 2014, with the first recorded value on April 3, 2006. The base date for the index is also April 3, 2006. It was assigned a base value of 100 at that time. The S&P BSE India Infrastructure Index is regulated and maintained by the S&P BSE Index Committee.

Constituent Companies


The S&P BSE India Infrastructure Index comprises various constituents, with the top 10 constituents holding significant weight within the index. Among these, Larsen & Toubro Limited, representing the industrials sector, carries the most index weight. NTPC Limited, focused on utilities, is the second biggest constituent. Oil & Natural Gas Corp Limited, Adani Ports and Special Economic Zone, Power Grid Corp of India Limited and Power Finance Corp Limited are other big names in the index.


REC Limited, Rail Vikas Nigam Limited, Gail India Limited and NCC Limited/India are the rest of the names on the top 10 companies in the S&P BSE India Infrastructure Index.

The weightage for each infrastructure cluster is limited to 30% and each company's stock cannot have more than 10% weightage. The rebalancing process happens on a semi-annual basis.


Weightage of Companies


The full market capitalisation of the BSE India Infrastructure Index stood at ₹35,28,728.27 as of January 25, 2024. The free float market capitalisation of the BSE India Infrastructure Index companies stood at ₹15,06,292. The index measures the performance of the top 30 Indian companies involved in infrastructure businesses.
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