The National Stock Exchange of India has announced the launch of four new indices in equity cash and derivatives segment with effect from April 8. These indices include Nifty Tata Group 25% Cap, Nifty500 Multicap India Manufacturing 50:30:20, Nifty500 Multicap Infrastructure 50:30:20, and Nifty MidSmall Healthcare, according to a circular by the exchange.

The Nifty Tata Group 25% Cap index will consist of 10 Tata Group companies, and will be based on free float market capitalisation method, NSE said. The weightage of constituents in this index will be capped at 25% at the time of rebalancing of shares or change in index constituents.

The constituents in the Tata Group index will include Tata Consultancy Services, Tata Motors, Titan Company, Tata Steel, and other shares, with the highest weight of 24.53% assigned to TCS.

The Nifty500 Multicap India Manufacturing 50:30:20 and the Nifty500 Multicap Infrastructure 50:30:20 indices will track the performance of select stocks from the Nifty 500 index that represent the manufacturing, infrastructure themes, respectively.

The key constituents in the manufacturing companies-oriented index will be Reliance Industries, Sun Pharmaceutical Industries, Tata Motors, and Mahindra & Mahindra. Meanwhile, in the infrastructure companies-oriented index, the key constituents will be Larsen & Toubro, RIL, Bharti Airtel, and NTPC. Both the indices will have 75 constituents each.

The Nifty MidSmall Healthcare index will track the performance of the mid-cap and small-cap stocks within the healthcare sector. The index will include upto 30 stocks from the parent Nifty MidSmallcap 400 index based on the stock’s six-month average free-float market capitalization, the circular said.

Max Healthcare will have the highest weightage at 14.26% in the Nifty MidSmall Healthcare index. The other key constituents in the index will be Lupin, Aurobindo Pharma, and Alkem Laboratories.

NSE said these indices can be used for a variety of purposes such as benchmarking fund portfolios, launching of index funds, Exchange Traded Funds, and structured products.