UI 44 Average: 1,666.46 +5.89
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Stock price of Dewan Housing Finance Corp Ltd (#DHFL) depressed on the equity bourses by falling more than 77 per cent since Sep-18, reducing the overall weight of lowest deciles in UI 44 Average. Asset/liability mismatch and recent defaults on its obligation has reduced the company’s ability to deliver on its performance guidance.
Hence, this is the decision of the board that DHFL will be removed from UNIDOW Industrial 44 Average (#UI44) on Tuesday, 30 Apr 2019. This action will lead to the inclusion of HDFC Asset Management Company Limited (#HDFCAMC) in the equity index. This is the first company from the HDFC group family, which will be included in UNIDOW Indices. The change in constitution of the index by number of industry is not changing. However, this will introduce “Capital Market” industry from the Financial Services sector in a major equity index in India.