NSE launches new indices

NSE arm launches indices for Tata, Aditya Birla, Mahindra groups
 MUMBAI - National Stock Exchange's subsidiary India Index Services &
Products Ltd has launched group specific indices for three corporate groups
-Tata Group, Aditya Birla Group, and the Mahindra group.
    "The corporate group indices are designed to reflect performance of
companies belonging to the respective corporate groups," NSE said in the
release.
 "These indices are based on full market capitalization method and
will include all the companies of the respective groups listed on NSE."
    The base value of these indices is 1000 and the base date would be Apr 1,
2005.
    The index for Tata Group has been named Nifty Tata Group Index and
consists of 25 companies across the 12 sectors. The market capitalization of
this index is about 7.5 trln rupees, which is about 7.83% of the total market
capitalization of the companies listed on NSE, the release said.
    Nifty Aditya Birla Index consists eight companies across seven sectors
and has market capitalization of around 2.1 trn rupees. Nifty Mahindra Group
index consists of seven companies across six sectors and has a market
capitalization of 1.6 trln rupees.
    NSE has said that it may launch further such indices going ahead.