BHARAT-22 index comprises of shares of key CPSEs, public sector banks and also the government owned shares in blue chip private companies
GN Bureau | November 15, 2017
The centre has launched BHARAT-22 exchange traded fund (ETF), managed by ICICI Prudential mutual fund to target an initial amount of about Rs 8,000 crore. The new fund offer is open till November 17.
The units of the scheme will be allotted 25 percent to each category of investors. In this ETF, the retirement fund has been made separate category for the investors. In case of spill-over, additional portion will be allocated to retail and retirement funds. It offers three percent discount as well.
The strength of this ETF lies in the specially created Index S&P BSE BHARAT-22 Index which is a unique blend of shares of key CPSEs, public sector banks (PSBs) and also the government owned shares in blue chip private companies like Larsen & Tubro (L&T), Axis Bank and ITC. The shares of the government companies represent six core sectors of the economy - finance, industry, energy, utilities, fast moving consumer goods (FMCG) and basic materials. It makes the index broad-based and diversified. The strength of the index has been demonstrated in its performance since its launch in August, 2017 wherein it outperformed NIFTY-50 and Sensex.
The index constituents include Maharatana and Navratana enterprises like Coal India, GAIL, Power Grid Corporation of India Ltd. (PGCIL), National Thermal Power Corporation (NTPC), Indian Oil Corporation Ltd., Oil & Natural Gas Corporation (ONGC), Bharat Petroleum, and National Aluminum Company (NALCO), three PSBs—SBI, Bank of Baroda apart from the three private sector companies.
Probing data concerning increased job creation and the decline in unemployment has been holding the attention of economists and been subject of discussions in several think tanks in the preceding months. The NITI Aayog reports that 3.53 million new jobs were created between September 2017 and February 2018
With Lockdown 4 ending Sunday, the home ministry has issued new guidelines to fight COVID-19 and for phased re-opening of areas outside the Containment Zones. The guidelines, issued based on extensive consultations held with states and UTs, will be effective from June 1 till June 30. The first phase of reo
When the whole world is fighting COVID-19, food and nutrition security has become a major issue. The pandemic has aggravated the existing food crisis in India, especially in rural and tribal regions. There has been less availability of fresh foods in most parts of the country, and the tribal community has
India is determined to “set an example” for the rest of the word in the post-pandemic economic revival, prime minister Narendra Modi has said, underling the need to become self-reliant. “There is also a widespread debate on how the economies of various countries, including
Close to 48 lakh migrant labourers have been able to reach home from the cities they were working in, as the Indian Railways have run a total of 3,543 “Sharmik Special” trains from May 1. Following the home ministry order regarding the movement by special trains of migrant worker
Before the novel coronavirus hit it, Mumbai about 10-12 lakh labourers from elsewhere had made it their home. The figure for the state of Maharashtra was another 18-20 lakh. As the pandemic spread and the Maximum City emerged as the worst-hit place in India, all economic activities came to an end, and with