Description
BSE Index Services Private Ltd announces reconstitution of the BSE SMALLCAP 500 index, dropping four securities and adding four new ones effective March 23, 2026.
Summary
BSE Index Services Private Ltd (formerly Asia Index Pvt. Ltd.) has announced the reconstitution of the BSE SMALLCAP 500 index. Four securities will be dropped and four new securities will be added, effective at the open of Monday, March 23, 2026.
Key Points
- BSE SMALLCAP 500 index is being reconstituted with effect from March 23, 2026
- Four stocks are being removed from the index
- Four new stocks are being added to the index
- Changes have been included in the end-of-day corporate action file (*.SDE) on March 13, 2026
- Queries can be directed to bseindex@bseindia.com
Regulatory Changes
No regulatory rule changes; this is a routine periodic index reconstitution carried out by BSE Index Services Private Ltd.
Compliance Requirements
- Index fund managers, ETF managers, and passive funds tracking the BSE SMALLCAP 500 must rebalance their portfolios to reflect the new composition by the open of March 23, 2026.
- Clients should refer to the end-of-day corporate action file (*.SDE) released on March 13, 2026 for technical implementation details.
Important Dates
- March 13, 2026: Announcement date; end-of-day corporate action file updated
- March 23, 2026: Effective date — changes take effect at market open
Impact Assessment
Stocks Added to BSE SMALLCAP 500:
| Ticker | Stock Name |
|---|---|
| 544449 | Anthem Biosciences Ltd. |
| 544609 | Physicswallah Ltd. |
| 544597 | Piramal Finance Ltd. |
| 544606 | Pine Labs Ltd. |
Stocks Dropped from BSE SMALLCAP 500:
| Ticker | Stock Name |
|---|---|
| 531543 | Jindal Worldwide Ltd. |
| 500041 | Bannari Amman Sugars Ltd. |
| 500390 | Reliance Infrastructure Ltd. |
| 531500 | Rajesh Exports Ltd. |
The reconstitution will likely cause buying pressure in newly added stocks and selling pressure in removed stocks around the effective date, as passive funds and index-tracking ETFs adjust their holdings. Stocks being added (Anthem Biosciences, Physicswallah, Piramal Finance, Pine Labs) may see inflows from index-linked investment vehicles, while stocks being dropped (Jindal Worldwide, Bannari Amman Sugars, Reliance Infrastructure, Rajesh Exports) may see outflows.
Impact Justification
Index reconstitution affects passive funds and ETFs tracking BSE SMALLCAP 500; impacts four stocks being added and four being removed, with potential price impact around effective date.