December 13, 2021 (MLN): The Pakistan Stock Exchange (PSX) has replaced 3 companies in the Karachi Meezan-30 Index (KMI-30) as they do not fall in the list of top 30 Shariah Compliant stocks, a notice issued by PSX showed.
In a notice, PSX informed that it has carried out a re-composition exercise of the KMI-30 index for the review period from January 1, 2021, to June 30, 2021, as a result of which, 3 companies namely; Pioneer Cement Limited, Byco Petroleum Pakistan Limited, and Azgard Nine Limited have been included in the index.
On the other hand, Pakistan Intl. Bulk Terminal Limited, Sui Northern Gas Pipeline Limited and Honda Atlas Cars (Pak) Limited have been ousted from the index.
According to the notice, the re-composition has been carried out on the basis of the criteria of selection of companies as detailed in the brochure of KMI-30 Index, which can be seen on PSX’s website.
The above changes in the KMI-30 index will be implemented w.e.f. Monday, December 20, 2021.
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