Reconstitution of UNIDOW Industrial 44 Average – Jan 2020

Reconstitution of UNIDOW Industrial 44 Average – Jan 2020

Siemens, MRF and Bajaj Finserv will be included in UI 44 Average from Monday, 27 Jan 2020.

YES Bank, BHEL and Apollo Tyres will be removed from the index.

Sat, 11 Jan 2020: UNIDOW Industrial 44 Average, a heterogenous equity index of the Indian market, has witnessed a sluggish performance for the past two years - since inception - largely due to slowest economic growth in years, fall in consumption and poor credit demand from the retail consumers. Since Jan 2018, UNIDOW Industrial 44 Average has seen two changes in its constituents each year which resulted inclusion of L&T Financial Holdings Ltd and HDFC AMC Ltd in 2018 and 2019, respectively.

This year, during the annual rebalancing and reconstitution, it has been decided by the committee of the UNIDOW Indices to remove YES Bank Ltd, Bharat Heavy Electricals Ltd and Apollo Tyres Limited from the UNIDOW Industrial 44 Average. These three constituents will be replaced by Bajaj Finserv Ltd, Siemens Ltd and MRF Ltd from Monday, 27th Jan 2020. Bajaj Finserv will represent a new industry viz. Diversified Financial Services in the UI 44 Average.

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