Soon BSE will drop Transport Corporation from all S&P indices

Top bourse BSE has decided to drop Transport Corporation of India (TCI) from its indices from August 26, as the logistics firm is demerging its express distribution business into a wholly-owned subsidiary.

PTI

Mumbai,
Updated Aug 23, 2016 11:20 AM IST

Soon BSE will drop Transport Corporation from all S&P indices

Photo: Reuters

Top bourse BSE has decided to drop Transport Corporation of India (TCI) from its indices from August 26, as the logistics firm is demerging its express distribution business into a wholly-owned subsidiary.

TCI would be shifted out of S&P BSE 500, S&P BSE AllCap, S&P BSE Industrials, S&P BSE MidSmallCap and S&P BSE SmallCap.

ALSO READ: Five factors influencing market sentiment in Tuesday's session

The company would be replaced by Infibeam Incorporation Ltd on S&P BSE 500 from August 26.

"Transport Corporation of India is demerging its express distribution business effective August 26, 2016," BSE said in a statement.

"Effective at the open of Friday, August 26, 2016...

changes will be made to the...indices," it added.

ALSO READ: This global fund manager upgrades outlook on emerging markets

Last year, TCI's board had approved the demerger of its express distribution division undertaking into wholly-owned subsidiary TCI Express Ltd.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

Published on: Aug 23, 2016 11:08 AM IST

Soon BSE will drop Transport Corporation from all S&P indices

Top bourse BSE has decided to drop Transport Corporation of India (TCI) from its indices from August 26, as the logistics firm is demerging its express distribution business into a wholly-owned subsidiary.

TOP STORIES

TOP VIDEOS