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Information Technology (IT) industry has played a major role in the Indian economy during the last few years. A number of large, profitable Indian companies today belong to the IT sector and a great deal of investment interest is now focused on the IT sector. In order to have a good benchmark of the Indian IT sector, IISL has developed the CNX IT sector index. CNX IT provides investors and market intermediaries with an appropriate benchmark that captures the performance of the IT segment of the market.
Companies in this index are those that have more than 50% of their turnover from IT related activities like IT Infrastructure , IT Education and Software Training , Telecommunication Services and Networking Infrastructure, Software Development, Hardware Manufacturer’s, Vending, Support and Maintenance.
Market Representation
Companies in this index are those that have more than 50% of their turnover from IT related activities like IT Infrastructure , IT Education and Software Training , Telecommunication Services and Networking Infrastructure, Software Development, Hardware Manufacturer’s, Vending, Support and Maintenance.
Market Representation
- The CNX IT Index represents about 11.96% of the free float market capitalization of the stocks listed on NSE and 96.66% of the free float market capitalization of the stocks forming part of the IT sector as on March 31, 2015.
- The total traded value for the last six months ending March 2015 of all index constituents is approximately 9.48% of the traded value of all stocks on the NSE and 90.10% of the traded value of the stocks forming part of the IT sector.
- Companies must rank within the top 500 companies by average free-float market capitalisation and aggregate turnover for the last six months.
- The company's trading frequency should be at least 90% in the last 6 months.
- The company should have reported a positive net worth.
- The company should have a listing history of 6 months. A company which comes out with an IPO will be eligible for inclusion in the index, if it fulfills the normal eligibility criteria for the index for a 3 month period instead of a 6 month period.
- Final selection of 10 companies shall be done based on the free-float market capitalization of the companies.
- The review will take place on a semi-annual basis.
- Below is the list of stocks included in this index.