S&P BSE Bharat 22 Index Live Chart

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S&P BSE Bharat 22 Index Performance

Days Range

Low: 8,880.85
High: 8,958.33
Previous Close8,906.30
Open8,940.08
52W Range5,351.48 - 9,354.30
P/E Ratio14.47

S&P BSE Bharat 22 Index Companies

Company
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Axis Bank

₹1,173.80

-0.60 (-0.05%)

₹1,170.50 - ₹1,184.25

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B P C L

₹625.45

6.30 (1.02%)

₹618.50 - ₹629.40

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Bank of Baroda

₹285.10

2.45 (0.87%)

₹281.80 - ₹285.60

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Bharat Electron

₹307.10

6.15 (2.04%)

₹301.35 - ₹308.80

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Coal India

₹487.50

-0.30 (-0.06%)

₹485.00 - ₹492.25

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Engineers India

₹261.40

7.60 (2.99%)

₹250.80 - ₹261.90

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GAIL (India)

₹223.10

3.35 (1.52%)

₹219.45 - ₹225.50

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I O C L

₹170.35

1.25 (0.74%)

₹169.10 - ₹172.00

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Indian Bank

₹539.50

-2.10 (-0.39%)

₹538.05 - ₹544.95

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ITC

₹430.35

0.05 (0.01%)

₹429.00 - ₹431.45

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Larsen & Toubro

₹3,686.20

-18.05 (-0.49%)

₹3,673.70 - ₹3,720.00

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Natl. Aluminium

₹193.95

7.45 (3.99%)

₹188.70 - ₹195.10

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NBCC

₹158.90

3.75 (2.42%)

₹152.55 - ₹162.75

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NHPC Ltd

₹103.10

0.80 (0.78%)

₹101.60 - ₹104.25

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NLC India

₹232.90

0.05 (0.02%)

₹231.25 - ₹235.70

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NTPC

₹367.95

-2.00 (-0.54%)

₹366.00 - ₹370.35

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O N G C

₹275.80

-0.75 (-0.27%)

₹275.00 - ₹278.20

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Power Fin.Corpn.

₹508.80

5.25 (1.04%)

₹500.05 - ₹511.80

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Power Grid Corpn

₹320.80

-0.60 (-0.19%)

₹319.45 - ₹325.65

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REC Ltd

₹531.70

10.10 (1.94%)

₹519.10 - ₹534.85

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SJVN

₹135.90

2.75 (2.07%)

₹131.85 - ₹138.80

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St Bk of India

₹841.10

-2.80 (-0.33%)

₹840.00 - ₹849.75

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S&P BSE Bharat 22 Index Sectors

Sector Name Advances No Change Declined
Banks 2 4 2
Crude Oil & Natural Gas 1 1 0
Finance 2 2 0
Gas Distribution 1 1 0
Infrastructure Developers & Operators 1 3 2
Mining & Mineral products 0 1 1
Non Ferrous Metals 1 1 0
Power Generation & Distribution 0 5 5
Refineries 2 2 0
Tobacco Products 0 1 1
Aerospace & Defence 1 1 0

Data 2

Data 3

What is BSE BHARAT 22 INDEX?

BSE BHARAT 22 INDEX is a thematic index on the Bombay Stock Exchange (BSE) which captures the performance of the Indian companies that have been disinvested by the central government. It is a diversified index of 22 stocks which span 6 sectors, including Finance (21.05%), Capital Goods (20.26%), FMCG (18.69%), Power (16.98%), Oil & Gas (15.04%), and Metal, Metal Products & Mining (~8%).

This BSE BHARAT 22 INDEX was launched on August 10, 2017, with the first value date as March 17, 2006, and with base value at 1000. Since its inception, the S&P BSE BHARAT 22 INDEX share price has breached the levels of 4,000 at ~9.1x P/E multiples. The weighted average carbon intensity of the BHARAT 22 INDEX is 2061.90.

The index value is calculated based on a modified-market-cap-weighted method on an end-of-day basis. It is reconstituted annually in the month of March. It caps its stocks at 15% and the macro-economic sector indicators at 20% on a float-adjusted market cap basis.

S&P BSE BHARAT 22 INDEX is managed and governed by S&P BSE Index Committee set up under Asia Index Private Ltd, which is a joint venture of S&P and BSE Ltd. The BSE BHARAT 22 INDEX is calculated in two currencies: INR and USD; for USD, spot foreign exchange rates are applied from Refinitiv’s data. It has an index variant in the form of S&P BSE BHARAT 22 INDEX TR for both the currencies.

Orgainisation
S&P BSE Bharat 22 Index
Exchange
BSE

How is BSE BHARAT 22 INDEX calculated? How are stocks selected for inclusion in BSE BHARAT 22 INDEX?

The BSE BHARAT 22 INDEX share price is computed by weighting its 22 stocks based on float-adjusted market capitalization, using the divisor methodology of the S&P Dow Jones equity indices, subject to 15% individual stock weight cap and 20% individual common India Industry Classification sector cap.

The securities must fulfil the following eligibility criteria to be included in the BSE BHARAT 22 INDEX:

  1. Should be domiciled in India and listed on the Bombay Stock Exchange.
  2. Should be classified as
  • CPSEs by the central government, or
  • Specific Undertaking of the UTI (SUUTI), or
  • Public Sector Undertaking (PSU) Banks
  1. Should be a company that has undergone stake disinvestment by the central government.
  2. Only common stocks can be included in the BSE BHARAT 22 INDEX, i.e., DVRs cannot form a part of this index.
  3. Companies that have undergone a scheme of arrangement, namely spin-offs, capital restructuring etc., must have a listing history of at least one month in order to be eligible for inclusion.
  4. Additions or deletions can only be made if the central government announces changes to its disinvestment program, subject to a 5 days advance notice.

The index value is calculated as follows –

Index value = Index Market Value / Divisor

Where,

Index Market Value = Price * Shares * IWF (Float Factor) * AWF

AWF = Additional weight factor to maintain index weight constraints

Divisor after rebalancing = Market Value / Index Value; it ignores corporate action adjustments for rights offering, bonus shares, stock splits etc.

The BSE BHARAT 22 INDEX is reconstituted annually in March. It is subject to consistency check with the SEBI norms on a quarterly basis.

S&P BSE Bharat 22 Index FAQs

What are BSE BHARAT 22 INDEX stocks?

BSE BHARAT 22 INDEX includes 22 public and private sector companies that have been disinvested by the government. The top 10 constituent stocks represent ~86% of the index. The complete list is as follows:

  1. Axis Bank
  2. Bank of Baroda
  3. Bharat Electronics
  4. Bharat Petroleum Corp
  5. Coal India
  6. Engineers India
  7. Gail India
  8. Indian Bank
  9. Indian Oil Corp
  10. ITC
  11. Larsen & Toubro
  12. National Aluminium Co
  13. NBCC (India)
  14. NHPC
  15. NLC India
  16. NTPC Ltd
  17. Oil & Natural Gas Corp
  18. Power Finance Corp
  19. Power Grid Corp of India
  20. REC
  21. SJVN
  22. State Bank of India

How to Invest in BSE BHARAT 22 INDEX?

An open-ended Exchange Traded Fund (ETF), managed by ICICI Prudential AMC, has been launched, which passively tracks the Bharat 22 index. Such fund offerings have low expense ratios and return equivalent returns to the benchmark index, albeit with some tracking errors.

Should you Invest in the BSE BHARAT 22 INDEX? Is the investment in BSE BHARAT 22 INDEX safe?

BSE BHARAT 22 INDEX has generated price returns of 2.16% and 6.42% in the past 5-year and 10-year period on a back-tested calculation basis. Its annualized risk-adjusted returns ratio comes to 0.25 for a 5-year period and 0.45 for a 10-year time horizon. BSE BHARAT 22 INDEX’s P/E multiples are projected to deteriorate slightly to 8.84x. It continues to earn a high dividend yield of 4.33%. It is a highly liquid index since all the index constituents are also available in the F&O segment.

How has BSE BHARAT 22 INDEX performed against BSE CPSE index?

On a total-returns basis, BSE BHARAT 22 INDEX has overperformed the BSE CPSE index over all time horizons. It has generated 5.79% and 9.57% returns over a 5-year and 10-year time period, respectively, whereas the BSE CPSE has returned 3.96% and 6.52% returns for the same time horizon. Both the indices experience similar volatility levels.

What is the objective of BSE BHARAT 22 INDEX?

BSE BHARAT 22 INDEX has been designed to serve as a benchmark index for the purpose of tracking the performance of 22 large blue-chip company stocks- CPSE/ SUUTI/ PSU Banks-that have been disinvested by the central government.