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BSE India INFRA is a thematic index on the Bombay Stock Exchange (BSE) which captures the performance of the domestic infrastructure industry. It is a diversified index of 30 stocks, selected from the S&P BSE AllCap index, representing the infrastructure and allied operations sector. The BSE India INFRA stocks span 7 sectors, namely, Capital Goods, Power, Transport Services, Oil & Gas, Finance, Utilities, and Housing.
This BSE India INFRA index was launched on May 19, 2014, with the first value date as April 3, 2006, and with base value of 100. Since its inception, the S&P BSE India INFRA share price has breached the levels of 250 at ~10.35x P/E multiples. The calculation of index value is based on the modified market capitalisation value at the end of the day. The weighted average carbon intensity comes to 1,789.01.
BSE India INFRA is reconstituted annually in September, while the weights are rebalanced semi-annually in March and September. The BSE India INFRA index is calculated in two currencies: INR and US$; for US$, spot foreign exchange rates are applied from Refinitiv’s data.
S&P BSE India INFRA 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 India INFRA index is suitable for benchmarking of fund portfolios and launching of index funds looking for a liquid and investable exposure to the infrastructure sector.
The S&P BSE India INFRA share price is computed by weighting its 30 stocks based on modified market capitalisation value, using the divisor methodology of the S&P Dow Jones equity indices. Index weight rebalancing is done semi-annually based on float-adjusted market capitalisation.
The securities must fulfil the following eligibility criteria to be included in the BSE India INFRA index:-
The index value is calculated as follows –
Index value = Index Market Value / Divisor
Where,
Index Market Value = Price * Shares * IWF (Float Factor) *Fx rate * AWFi
AWFi = Adjusted Stock Market Value factor assigned on rebalancing date
Divisor = Index Market Value after rebalancing / Index Value before rebalancing
The BSE India INFRA index is reconstituted annually in September, with semi-annual reviews undertaken in March and September for index cap weightings. Single stocks are capped at 10%, while the infrastructure cluster is capped at 30%. Corporate actions are weighted based on the non-market capitalisation method.
