Description

BSE announces additions and deletions across multiple indices including Consumer Discretionary, Energy, Industrials, Diversified Financials Revenue Growth Index, and Select IPO Index, effective December 22, 2025.

Summary

BSE has announced the reconstitution of six indices effective December 22, 2025. The changes include 1 addition and 3 deletions in BSE Consumer Discretionary, 1 deletion in BSE Energy, 2 deletions in BSE Industrials, 10 additions and 9 deletions in BSE Diversified Financials Revenue Growth Index, and 6 additions and 6 deletions in BSE Select IPO Index.

Key Points

  • Total of 17 stocks being added across all indices
  • Total of 21 stocks being dropped across all indices
  • All changes effective from December 22, 2025
  • BSE Diversified Financials Revenue Growth Index sees the most activity with 19 total changes
  • BSE Select IPO Index sees 12 total changes with new IPO entrants

Index-wise Changes

BSE Consumer Discretionary

Additions:

  • SKF India Ltd. (500472)

Deletions:

  • Hampton Sky Realty Ltd. (526407)
  • Raj Rayon Industries Ltd. (530699)
  • Suratwwala Business Group Ltd. (543218)

BSE Energy

Deletions:

  • Dolphin Offshore Enterprises (India) Ltd. (522261)

BSE Industrials

Deletions:

  • Shri Jagdamba Polymers Ltd. (512453)
  • SKF India Ltd. (500472)

BSE Diversified Financials Revenue Growth Index

Additions:

  • Choice International Ltd. (531358)
  • Poonawalla Fincorp Ltd. (524000)
  • TVS Holdings Ltd. (520056)
  • Muthoot Finance Ltd. (533398)
  • Mahindra & Mahindra Financial Services Ltd. (532720)
  • Federal Bank Ltd. (500469)
  • RBL Bank Ltd. (540065)
  • Shriram Finance Ltd. (511218)
  • Max Financial Services Ltd. (500271)
  • Niva Bupa Health Insurance Company Ltd. (544286)

Deletions:

  • UTI Asset Management Company Ltd. (543238)
  • ICICI Lombard General Insurance Company Ltd. (540716)
  • SBI Life Insurance Company Ltd. (540719)
  • IIFL Finance Ltd. (532636)
  • Indian Energy Exchange Ltd. (540750)
  • Tata Investment Corporation Ltd. (501301)
  • JM Financial Ltd. (523405)
  • Maharashtra Scooters Ltd. (500266)
  • JSW Holdings Ltd. (532642)

BSE Select IPO

Additions:

  • Siemens Energy India Ltd. (544390)
  • HDB Financial Services Ltd. (544429)
  • Anthem Biosciences Ltd. (544449)
  • National Securities Depository Ltd. (544467)
  • JSW Cement Ltd. (544480)
  • Aditya Infotech Ltd. (544466)
  • Vikram Solar Ltd. (544488)

Deletions:

  • Hitachi Energy India Ltd. (543187)
  • C.E. Info Systems Ltd. (543425)
  • Archean Chemical Industries Ltd. (543657)
  • Doms Industries Ltd. (544045)
  • Go Digit General Insurance Ltd. (544179)
  • Niva Bupa Health Insurance Company Ltd. (544286)

Important Dates

  • Effective Date: December 22, 2025

Impact Assessment

This reconstitution will affect index funds and ETFs tracking these BSE indices. Passive funds will need to rebalance their portfolios to match the new index composition. The largest impact is on the BSE Diversified Financials Revenue Growth Index with net addition of 1 stock but significant composition change (10 in, 9 out). Index trackers should expect moderate trading activity on December 22, 2025 as funds adjust their holdings to align with the reconstituted indices.

Impact Justification

Routine index reconstitution affecting multiple BSE indices with 38 total stock movements across 6 indices. Impacts passive funds and index-tracking strategies.