The new index of the CPSE Exchange Trade Fund (ETF) is likely to have shares of 11 state-owned companies, against the current 10, an official said.
The finance ministry, along with investment bankers, was in the process of rebalancing the ETF, and the new index would be ready by October, the official added.
Shares of three central public sector enterprises (CPSEs) — GAIL, Engineers India Ltd (EIL) and Container Corporation — will be removed from the index since the government holding in these companies has fallen below 55%. These stocks would be replaced by scrips of four new CPSEs, including KIOCL, taking their total number in the ETF to 11.
