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S. Vaidya Nathan
BL Research Bureau
THE broadbased Business Line Composite Index of 250 stocks has been revamped. The composition of the index has been revised keeping in mind the changes that have taken place in the landscape of Corporate India.
The index was last recast in May 1998, when a new series of sectoral indices was introduced. Now, 19 stocks are being removed and substituted with an equal number of stocks so that the index continues to serve the investing public as a good and contemporary indicator of the broad price performance of the stock markets and of trends in the economy as a whole.
Some of the new stocks merely replace older ones in the same industry.
But in a few cases, …