KARACHI, Sept 14: The management of the Karachi Stock Exchange carried out the re-composition exercise of the KSE-100 index, which would go into effect from October 1, 2004.
The changes in companies that are to be the part of index were made in accordance with decision at the meeting of Board of Directors, held on March 29, 2004.
A press release issued by the KSE stated that the details of incoming and outgoing companies, on the basis of the provision of the re-composition rules of KSE 100 Index 1994 and the subsequent amendments made, were as follows: New incoming companies and the reason for their entry: (1) Shakarganj Sugar Mills Limited - Sector-Value Based Rule; (2) Javed Omer Vohra & Co. Limited - Market Capitalization Based Rule (3) Prime Commercial Bank Limited - Market Capitalization Based Rule.
The outgoing companies and the reasons for the same were: (1) Shahtaj Sugar Mills Limited - Sector-Value Based Rule (2) Southern Electric Power Company Limited - Market Capitalization Based Rule (3) East West Insurance Company Limited - Market Capitalization Based Rule. The net effect of the re-composition would be that three companies would leave the index while three new companies would enter.
"The recomposed index, based on the prices of August 31, 2004 will capture the market capitalization to the extent of 86.60 per cent of the total market capitalization", the KSE statement said.
The following 100 companies would form the part of the re-composed KSE-100 index: PICIC Growth Fund; Standard Chartered Modaraba; Orix Leasing; Arif Habib Securities Limited; Jahangir Siddiqui & Co. Limited; Shakarganj Sugar Mills Limited; PNSC; PIAC "A"; Standard Chartered Modaraba; Attock Cement Pak. Limited; Bestway Cement Limited; PTCL "A"; Chakwal Cement Co. Limited; WorldCALL Communication; Orix Leasing; Cherat Cement Co. Limited; D. G. Khan Cement Co. Ltd; Fauji Cement Company Ltd; Dawood Hercules Chemicals Ltd; Lucky Cement Limited; Engro Chemical Pakistan Ltd; Maple Leaf Cement Factory Ltd; Fauji Fertilizer Bin Qasim Ltd; Javed Omer Vohra & Co. Limited; Fauji Fertilizer Co. Limited; PICIC; Lakson Tobacco Co. Ltd; Pakistan Tobacco Co. Ltd; Abbott Laboratories Limited; Askari Commercial Bank Ltd; GlaxoSmithKline Pakistan Ltd; Bank AL Habib Limited; Reckitt Benckiser Pak. Ltd; Bank of Punjab; Attock Refinery Limited; Faysal Bank Limited; Bosicor Pakistan Limited; Metropolitan Bank Limited; National Refinery Limited; BOC Pakistan Limited; Meezan Bank Limited; Pakistan Refinery Limited; Clariant Pakistan Limited; Muslim Commercial Bank Ltd; Colgate Palmolive Limited; National Bank of Pakistan Ltd; ICI Pakistan Limited; PICIC Commercial Bank Ltd; KESC; Pakistan PTA Limited; Prime Commercial Bank Limited; Kohinoor Energy Limited; Sitara Chemical Industries Ltd; Saudi Pak Commercial Bank Ltd; Hub Power Co. Ltd; Soneri Bank Limited; Union Bank Limited; Century Paper & Board Limited; PSO; Packages Limited; Shell Pakistan Limited; Security Papers Limited; Adamjee Insurance Co. Ltd; Sui Northern Gas Pipeline Ltd; IGI Insurance Co. Ltd; Sui Southern Gas Co. Limited; New Jubilee Insurance Co. Ltd; Wazir Ali Industries Limited; Pakistan Reinsurance Co. Ltd; Mari Gas Company Limited; OGDC; Bata Pakistan Limited; Gadoon Textile Mills Ltd; Pakistan Oilfields Limited; Nestle Milkpak Limited; Kohinoor Weaving Mills Ltd; International Industries Ltd; Rafhan Bestfoods Limited; Rafhan Maize Products Limited; Unilever Pakistan Limited; Gul Ahmed Textile Mills Ltd; Al Ghazi Tractors Limited; Kohinoor Textile Mills Limited; Atlas Honda Limited; Nishat (Chunian) Ltd; Dewan Farooque Motors Ltd; Ghani Glass Limited; Nishat Mills Limited; Honda Atlas Cars Limited; Indus Motor Company Ltd; Millat Tractors Limited; Dreamworld Limited; Bannu Woollen Mills Limited; Pak Suzuki Motor Co. Ltd; Pakistan Services Limited; Tri-pack Films Limited; Dewan Salman Fibre Limited; General Tyre & Rubber Co; Gatron Industries Limited; Ibrahim Fibres Limited; Siemens Engineering Co. Ltd. and Thal Limited.
