Edelweiss Capital to replace Ceat in BSE-500 index

Edelweiss Capital to replace Ceat in BSE-500 index


Mumbai: Newly-listed domestic brokerage firm Edelweiss Capital will replace tyre maker Ceat Ltd in the BSE-500 index from 26 December.

Edelweiss Capital would replace Ceat Ltd from the BSE-500 index, a circular issued by the Bombay Stock Exchange said.

The circular further stated that Ceat Ltd would be also excluded from trading in the BSE Small Cap index.

Edelweiss Capital which listed on the bourses early this month had recorded a gain a 83% on its debut trade. The initial public offer (IPO) of Edelweiss Capital was subscribed over 110 times and the issue price per share had been fixed at Rs825.

The BSE-500 index represents nearly 93% of the total market capitalization on the Bombay Stock Exchange. This means BSE-500 index ideally represents total market. This index represents all 20 major industries of the economy.