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BSE Realty Index launched :

In recognition of the growing importance of the real-estate sector in the Indian economy, BSE today launched the BSE Realty Index.
The base year for the Realty Index will be 2005 and the base index value as 1,000.
It will be calculated on the free-float methodology, while 11 scrips will be listed in this index, including DLF, Unitech, and Parsvanath Developers.
It represents about 95 per cent market capitalisation of real-estate development companies in the BSE-500 index.
The index value today stood at 7,333.97 points. The data would be uploaded on the BSE Web site effective July 10.
The market capitalisation of the real-estate sector in India is just 4.2 per cent of the total market capitalisation, below the global norm of approximately 15 per cent, reflecting headroom for growth of this sector, an official release said.

Mumbai, July 9 Business Line

BSE launches Realty Index :

The BSE or Bombay Stock Exchange launched the Realty Index comprising of 11 stocks today. The DLF stock was at the top of BSE Realty Index with 35.94% weightage. DLF & Unitech comprise over 65% of the BSE Realty Index. It comprises 95% of market cap of real estate development. The BSE Realty Index Base year is going to be 2005. The BSE Realty Index stood at 7333.97 today.
Fundamental changes are taking place in this sector in India. The demand for real estate in the country, both residential and commercial, has registered strong growth over the past three years and Indian cities have become attractive investment destinations for international real estate players.
The market capitalisation of the real estate sector in India is just 4.2% of the total market capitalisation, well below the global norm of approximately 15%, reflecting the headroom available for growth of this sector.
BSE has led from the front so far as development of index products is concerned. Launched in 1986, SENSEX, the flagship of the BSE index family, was the first equity index in Indian capital markets. Tracked globally, SENSEX today is universally viewed as a proxy for the Indian Capital markets. Over the years, BSE has launched several index products to cater to the needs of market participants. BSE also pioneered the concept of free-float methodology for index calculation in India by shifting all its indices to this global best practice.
Salient features of BSE Realty index are as follows:
Base Year: 2005
Base Index Value: 1000
Calculation Methodology: Free-float Methodology
No. of Scrips: 11 Represents about 95% market capitalisation of real estate development companies in BSE-500 index
Historical Values: Available since January 1, 2006
Index Value on July 9, 2007: 7333.97
Constituents of BSE Realty Index:

Code Name Mkt. Cap. (Rs. Cr.) on 09/07/07 Free-float Adj. Factor FF Mkt. Cap. (Rs. Cr.) Wgt. In Index (%)
532868 DLF Ltd. 96946.71 0.15 14542.01 35.94
507878 Unitech Ltd. 42579.02 0.30 12773.71 31.57
532832 Indiabulls Real Estate Ltd. 8056.64 0.70 5639.65 13.94
532780 Parsvnath Developers Ltd. 6879.01 0.20 1375.80 3.40
500013 Ansal Properties & Infrastructure Ltd. 3466.81 0.35 1213.38 3.00
532313 Mahindra Gesco Developers Ltd. 2192.31 0.50 1096.16 2.71
532784 Sobha Developers Ltd. 6742.32 0.15 1011.35 2.50
515055 Anant Raj Industries Ltd. 4450.67 0.20 890.13 2.20
503100 Phoenix Mills Ltd. 2900.25 0.25 725.06 1.79
503031 Peninsula Land Ltd. 2020.33 0.35 707.12 1.75
503031 Peninsula Land Ltd. 2020.33 0.35 707.12 1.75
532799 Akruti Nirman Ltd. 3265.63 0.15 489.84 1.21

2007-07-09 Source :

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