IRDC, FTSE launch India Infrastructure Index Series

By Staff
|
Google Oneindia News

New Delhi, July 24 (UNI) Infrastructure Development Finance Company Ltd (IDFC) and FTSE Group (FTSE) today launched the 'FTSE IDFC India Infrastructure Index Series' which will represent the performance of Indian companies listed on the National or Bombay Stock Exchanges.

The new index tool is for investors seeking to access the Indian infrastructure market and will measure the performance of company generating the majority of their revenue from infrastructure business.

Unveiling the FTSE-IDFC India Infrastructure Index Series here, Finance Minister P Chidambaram said, ''Infrastructure Index indicates an increase of about 10 times in the last five years translating to a compounded annual growth of 58 per cent, whereas the growth in the Sensex and Nifty has been about two to three times.'' He said Infrastructure Index would be keenly observed by all concerns, as infrastructure is key to the economic growth story of India.

''FTSE enjoys a reputation for innovation in indexing, and working with IDFC to create an index for this dynamic asset class is a great opportunity to showcase those skills'' said FTSE Group Deputy Chief Executive Donald Keith told reporters here.

FTSE IDFC India Infrastructure Index Series contains one tradable and one benchmark index and is calculated in real time and end of day basis. It contains stocks on infrastructure sectors including transportation, energy, communication and construction.

''The index series will be extremely useful to Indian and international investors in getting exposure to Indian infrastructure through funds and structured products,'' said IDFC Managing Director and Chief Executive Officer Rajiv Lall.

UNI

For Daily Alerts
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X