BSE Index Services Private Limited has announced broad reconstitution of over 30 BSE indices effective April 30, 2026, triggered by the demerger of Vedanta Ltd. (Exchange ticker: 500295). Vedanta is spinning off its Aluminium, Merchant Power, Oil & Gas, and Iron Ore businesses into separate entities. As a result, Vedanta will be removed from all affected indices and replaced by Tata Motors Ltd. (544569), Hero Motocorp Ltd. (500182), or JM Financial Ltd. (523405) depending on the specific index.

Key Points

• Vedanta Ltd. (500295) is being dropped from all listed indices due to its demerger scheme of arrangement.
• Tata Motors Ltd. (544569) is the replacement addition in the majority of indices, including BSE 100, BSE 200, BSE 500, BSE SENSEX NEXT 50, BSE 1000, BSE INDIA 150, BSE 500 EQUAL WEIGHT, BSE 250 LARGEMIDCAP, BSE 100 LARGECAP TMC, BSE SENSEX NEXT 50 TMC, BSE 200 EQUAL WEIGHT, BSE 1000 MULTICAP EQUAL SIZE WEIGHTED (25%), and BSE 500 MOMENTUM 50.
• Hero Motocorp Ltd. (500182) replaces Vedanta in BSE SENSEX NEXT 30, BSE SENSEX SIXTY, BSE SENSEX SIXTY 65:35, BSE LARGECAP 100 MOMENTUM 30, BSE LARGECAP 100 ENHANCED VALUE 30, and BSE LARGECAP 100 QUALITY 30.
• JM Financial Ltd. (523405) replaces Vedanta in BSE 500 DIVIDEND LEADERS 50.
• Several indices have no replacement addition (—): BSE METAL, BSE INDIA MANUFACTURING INDEX, BSE ALLCAP, BSE COMMODITIES, BSE LARGECAP, BSE DIVIDEND STABILITY INDEX, BSE MOMENTUM INDEX, BSE ALL DERIVATIVE STOCKS, and BSE LARGEMIDCAP.
• The corporate actions are included in the end-of-day corporate action file (*.SDE) effective tonight.

Regulatory Changes

No new regulatory framework is introduced. This is a corporate-action-driven index reconstitution under the existing BSE index methodology. The changes follow BSE Index Services’ standard process for handling demergers and scheme of arrangements.

Compliance Requirements

• Index fund managers and ETF providers tracking any of the affected indices must rebalance their portfolios to reflect the additions and deletions by the effective date.
• Custodians and portfolio managers using any of the 30+ affected indices as benchmarks should update their benchmark compositions accordingly.
• Clients with queries should contact bseindex@bseindia.com.

Important Dates

Impact Assessment

High impact event affecting a wide cross-section of the Indian equity market index ecosystem:

• Over 30 BSE indices are reconstituted simultaneously, making this one of the broader single-stock-driven index events.
• Vedanta Ltd. exits all indices; passive and quasi-passive funds will need to sell Vedanta and buy the respective replacements, generating significant turnover around April 29–30, 2026.
• Tata Motors Ltd. sees the largest demand boost as it is added to the highest number of indices.
• Indices with no replacement (e.g., BSE METAL, BSE ALLCAP) will see a reduction in constituent count or weight redistribution.
• The demerger creates new listed entities from Vedanta’s spun-off businesses, which may subsequently be eligible for index inclusion via future reviews.