Description
Tata Motors Ltd will be excluded from BSE SENSEX and 27 other BSE indices effective November 17, 2025, as it did not hit lower circuit on November 12-13, 2025 following demerger scheme.
Summary
BSE Index Services has announced the exclusion of Tata Motors Ltd (Scrip code: 544569) from BSE SENSEX and 27 other BSE indices effective prior to trading on November 17, 2025. This action follows the company’s demerger scheme of arrangement, where the stock did not hit the lower circuit on November 12-13, 2025, triggering the pre-announced exclusion process outlined in Notice No: 20250403-46.
Key Points
- Tata Motors Ltd (Scrip code: 544569) will be excluded from 28 BSE indices effective November 17, 2025
- Exclusion triggered as the stock did not hit lower circuit on November 12 and 13, 2025
- Action follows pre-announced process for removal of spun-off scrip from BSE Indices in demerger events (Notice No: 20250403-46)
- Major indices affected include BSE SENSEX, BSE 100, BSE 200, BSE 500, BSE AUTO, and BSE LARGECAP
- Exclusion will be effective prior to the open of trading on Monday, November 17, 2025
- Corporate action has been included in end-of-day corporate action file (*.SDE)
Regulatory Changes
This exclusion implements the process established in Notice No: 20250403-46 for handling index constituents undergoing scheme of arrangement for demerger. The process includes monitoring lower circuit hits post-demerger listing to determine timing of exclusion from indices.
Compliance Requirements
- Market participants and fund managers tracking these indices must rebalance portfolios to reflect the exclusion
- Passive funds and ETFs tracking affected indices need to adjust holdings before November 17, 2025
- Trading members should note the corporate action in tonight’s end-of-day file (*.SDE)
- Queries should be directed to bseindex@bseindia.com
Important Dates
- November 12, 2025: First day monitored for lower circuit - circuit not hit
- November 13, 2025: Second day monitored for lower circuit - circuit not hit
- November 17, 2025: Effective exclusion date from all 28 BSE indices (prior to market open)
Impact Assessment
Market Impact: High - The exclusion of Tata Motors from BSE SENSEX, India’s flagship index and barometer of economic growth, represents a significant market event. As a major automobile sector company, its removal will materially impact index composition and sector representation.
Index Impact: 28 indices affected including premier benchmarks like SENSEX, BSE 100, BSE 200, BSE 500, and sector-specific BSE AUTO index. This widespread impact affects multiple market cap categories (large cap, mid cap) and thematic indices.
Fund Impact: All passive investment products (ETFs, index funds) tracking these 28 indices must execute forced selling of Tata Motors shares, potentially creating selling pressure. Active rebalancing required across domestic and international funds benchmarked to these indices.
Investor Impact: Investors in index-tracking products will see automatic portfolio changes. The exclusion follows a transparent, pre-announced process related to the demerger corporate action, providing predictability to market participants.
Affected Indices (Complete List)
- BSE SENSEX
- BSE 100
- BSE 200
- BSE 500
- BSE AUTO
- BSE INDIA MANUFACTURING INDEX
- BSE ALLCAP
- BSE CONSUMER DISCRETIONARY
- BSE LARGECAP
- BSE SENSEX 50
- BSE 100 ESG INDEX
- BSE 250 LARGEMIDCAP INDEX
- BSE ENHANCED VALUE INDEX
- BSE 100 LARGECAP TMC
- BSE SENSEX SIXTY
- BSE SENSEX SIXTY 65:35
- BSE 200 EQUAL WEIGHT
- BSE PREMIUM CONSUMPTION
- BSE SELECT BUSINESS GROUPS
- BSE SENSEX EQUAL WEIGHT
- BSE INDIA SECTOR LEADERS
- BSE 1000
- BSE 1000 MULTICAP EQUAL SIZE WEIGHTED (25%)
- BSE 500 ENHANCED VALUE 50
- BSE INDIA 150
- BSE MULTICAP CONSUMPTION (50:30:20)
- BSE LARGEMIDCAP
- BSE SENSEX 50 TMC
Impact Justification
Exclusion of major automobile company from flagship BSE SENSEX and 27 other indices will significantly impact index composition, passive funds tracking these indices, and market sentiment