The Tata, Aditya Birla and Mahindra Groups have been selected by India Index Services & Products Ltd. (IISL), a subsidiary of India’s leading stock exchange NSE, in its endeavor to expand the suit of indices for the Indian capital market.

These indices are based on full market capitalisation method and will include all the companies of the respective groups listed on NSE and will reflect the performance of the companies in these groups, it said.

“In future, IISL may come up with indices on other corporate groups and third party products can be built on such indices” said Mr. Mukesh Agarwal, CEO, IISL.

These indices will be maintained by IISL and calculated on an end-of-day basis. The closing values of these indices would be available on www.nseindia.com

The Nifty Tata Group Index consists of 25 companies across 12 sectors with a marketcap of about Rs 7,51,160 crores which is 7.83 per cent of the total market capitalisation of companies listed on the National Stock Exchange (NSE).

An additional series of Tata Group namely ‘Nifty Tata Group 25 per cent Cap’ based on free float market capitalisation with 10 constituents capped at 25 per cent is also being launched.

The Nifty Aditya Birla Group Index consists of 8 companies across 7 sectors with a marketcap of about Rs 2,08,170 crores which is 2.17 per cent of the total marketcap of companies listed on NSE.

The Nifty Mahindra Group Index consists of seven companies across 6 sectors with a marketcap of about Rs 1,64,580 crores or 1.71 per cent of the total marketcap of companies listed on the NSE.