Nine Indian companies, including Bosch, Aurobindo Pharmaceuticals and Yes Bank, will be included in the large cap segment in FTSE Group’s Asia Pacific (excluding Japan) Index later this month.
Other companies are Eicher Motors, Motherson Sumi Systems, Zee Entertainment Enterprises, Godrej Consumer Products, Shree Cements and Cadila Healthcare.
“The changes will be effective after the close of business on Friday, March 20, 2015 (on Monday, March 23),” FTSE Group, a global provider of stock market indices, said in a statement yesterday.
With the inclusion in the index’s large cap segment, these stocks are expected to see more foreign fund flows.
Four Indian companies — NHPC, Reliance Communications, Reliance Power and Jindal Steel & Power — have been excluded from the index’s large cap segment.
FTSE Asia Pacific ex Japan Index is one of a range of indices designed to help investors to benchmark their Asia Pacific investments.
This index comprises large and mid cap stocks providing coverage of the developed and emerging markets in Asia Pacific excluding Japan. It is derived from the FTSE Global Equity Index Series (GEIS), which covers 98 per cent of the world’s investable market capitalisation, according to FTSE Group.