DLF, Bharti, ONGC, Cairn India enter DJ BRIC 50 index

DLF, Bharti, ONGC, Cairn India enter DJ BRIC 50 index

Real estate giant DLF, telecom major Bharti Airtel and energy firms ONGC and Cairn India have made their way to the Dow Jones BRIC 50 Index, a blue-chip index measuring performance of 50 largest and most liquid companies in Brazil, Russia, India and China. The new entrants would replace four other Indian firms -- realty firm Unitech, Tata Motors, TCS and Satyam Computer -- on the investible index, global index major Dow Jones Indexes said in a statement.

The changes are part of the regular annual review of the index and would be effective as of the open of trading on September 22. Other Indian companies on the index include RIL, L&T, ICICI Bank, Infosys, SBI, RCOM, Tata Steel, HDFC, BHEL, Suzlon and ITC. Besides four Indian companies, other new components of the index would include three from Brazil -- BM&F Bovespa S/A Bolsa de Valores Mercadorias e Futuros, Companhia Energetica de Minas Gerais-CEMIG, Metalurgica Gerdau S/A Pref, two Chinese entities -- China COSCO Holdings Company Limited and China Communications Construction Co Ltd -- and Russia's Surgutneftegaz JSC.

The 10 companies exiting the index include Brazil's Banco Santander S/A Pref, Companhia de Gas de Sao Paulo Ord and Light S/A Ord, China's Jiangxi Copper Company and Trina Solar Limited ADS and Russia's Mobile Telesystems. The float-adjusted market capitalisation of the reconstituted Dow Jones BRIC 50 Index has increased to $920 billion from $852 billion as of September 2. The number of components in the index is fixed at 15 each for Brazil, India and China and five components for Russia to reflect the size of each market in the index.

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Source:ET