NSE Indices, a subsidiary of the National Stock Exchange (NSE), on Friday, February 28 launched a new thematic index – the Nifty India Internet & E-Commerce Index. The Nifty India Internet & E-Commerce Index tracks the performance of the companies from Nifty Total Market that conduct business largely through online platforms. There are a total of 21 constituents in the index.
The weight of each stock in the index is based on its free-float market capitalisation, with a maximum weight limit of 20 per cent for each stock. The base date for the index is October 1, 2021, with a base value of 1,000.
According to the NSE Indices’ methodology document, the index will be reviewed and reconstituted semi-annually in March and September, using six-month average data ending in January and July, respectively.
It also stated that on a quarterly basis, the indices will be screened to ensure compliance with the portfolio concentration norms for ETFs/Index Funds as announced by SEBI on January 10, 2019. If any non-compliance is detected, appropriate corrective measures will be implemented to ensure adherence to the norms.
“Apart from the scheduled semi-annual review, additional ad-hoc reconstitution and rebalancing of the index shall be initiated in case any of the index constituents undergo suspension or delisting or scheme of arrangement,” it added.
Constituents Of The Nifty India Internet & E-Commerce Index
The following are the constituents of the index:
Angel One Ltd
Brainbees Solutions Ltd
Cartrade Tech Ltd
Easy Trip Planners Ltd
FSN E-Commerce Ventures Ltd
IIFL Capital Services Ltd
IndiaMART InterMESH Ltd
Indian Railway Catering And Tourism Corporation Ltd (IRCTC)
Infibeam Avenues Ltd
Info Edge (India) Ltd
Justdial Ltd
Le Travenues Technology Ltd
Motilal Oswal Financial Services Ltd
Nazara Technologies Ltd
One 97 Communications Ltd
PB Fintech Ltd
RattanIndia Enterprises Ltd
Swiggy Ltd
TBO Tek Ltd
Thomas Cook (India) Ltd
Zomato Ltd
Among these, the food delivery and quick commerce aggregator Zomato holds a weight of 20.3 per cent, Info Edge (India), an online classifieds company specialising in recruitment, matrimony, real estate, education and related services, has 18.83 per cent, and PB Fintech, the parent company of PolicyBazaar, which offers insurance and lending products, carries a weight of 16.72 per cent.
Fintech firm Paytm's parent company One 97 Communications, beauty, wellness, and fashion e-commerce platform Nykaa's parent FSN E-Commerce Ventures, and ticketing and catering services provider for railways IRCTC each have a weight between 7 per cent and 8 per cent. Meanwhile, Angel One, Motilal Oswal, Swiggy, and Indiamart Intermesh each have a weight of less than 5 per cent.
The Consumer Services sector accounts for 65.32 per cent of the index weight, followed by Financial Services at 33.48 per cent, and Media, Entertainment & Publication at 1.21 per cent.
As per the index's factsheet, the index has yielded a negative return of 18.87 per cent on a year-to-date basis, till February 14. Over the past year, it has surged 26.65 per cent.
The index boasts a price-to-earnings ratio of 89.07, a price-to-book value of 7.13 and a dividend yield of 0.22, according to the factsheet.
