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  Business   Economy  04 Aug 2017  Finance Minister Arun Jaitley announced new ETF 'Bharat 22'

Finance Minister Arun Jaitley announced new ETF 'Bharat 22'

PTI
Published : Aug 4, 2017, 4:17 pm IST
Updated : Aug 4, 2017, 4:17 pm IST

Bharat-22 will cover six sectors and feature four banking stocks.

Finance Minister Arun Jaitley on Friday announced a new Exchange Traded Fund under the name Bharat-22.
 Finance Minister Arun Jaitley on Friday announced a new Exchange Traded Fund under the name Bharat-22.

New Delhi: Finance Minister Arun Jaitley on Friday announced creation of a new exchange-traded fund (ETF) -- Bharat-22 -- that will comprise shares of 22 central public sector enterprises, state-owned banks and some holding in SUUTI.

Bharat-22 will cover six sectors, he told reporters here. It will feature four banking stocks -- SBI, Axis Bank, Bank of Baroda and Indian Bank -- other than CPSEs such as Nalco, ONGC, IOC, BPCL and Coal India.

Besides, there will be nine other PSUs as well as REC and PFC. SUUTI's holding in ITC has also been included.

Ninety per cent of the equities included are traded in futures. ICICI Prudential is the fund manager.

Tags: exchange traded fund, suuti, finance minister arun jaitley, bharat 22
Location: India, Maharashtra, Mumbai (Bombay)