Criteria governing BSE Carbonex Index:
All stocks of BSE-100 index will be part of BSE CARBONEX.
For stock selection criteria of BSE-100 index:
- Equities of companies listed on BSE Ltd. (excluding companies classified in Z group, listed mutual funds, scrips suspended on the last day of the month prior to review date, stocks objected by the Surveillance department of the Exchange and those that are traded under permitted category and SME category) shall be considered eligible
- Listing History: The stock should have a listing history of at least 3 months at BSE. An exception may be granted to one month, if the average free-float market capitalization of a newly listed company ranks in the top 10 of all companies listed at BSE. In the event that a company is listed on account of a merger / demerger / amalgamation, a minimum listing history is not required.
- The stock should have been traded on 95% of the trading days in the last three months. Exceptions can be made for extreme reasons like scrip suspension etc
- The list of constituents selected through Steps 1-3 are ranked on Average Free-Float Market Capitalisation, Average Turnover and Average Impact Cost.
- Liquidity Rank is computed by giving 75% weightage to Average Turnover Rank and 25% weightage to the Average Impact Cost Rank.
- Final Rank is arrived by giving 75% weightage to Average Free-Float Market Capitalisation Rank and 25% weightage to Liquidity Rank.
- The filtered list of constituents selected through step 6 is sorted on Final Rank.
- Any existing constituent ranking beyond 200 on Final Rank is excluded.
- The remaining companies are then sorted based on whether they are an existing member of the BSE-100 constituents and then on Final Rank.
Source : BSE