July 5, 2022 (MLN): The Pakistan Stock Exchange (PSX) has replaced 5 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 July 01, 2021, to December 31, 2021, as a result of which, 5 companies namely; Ghani Global Holdings Limited, Treet Corporation Limited, Telecard Limited, Sui Northern Gas Pipelines Limited, and Dawood Hercules Corporation Limited have been included in the index.
On the other hand, Fauji Cement Co. Limited, Ghnadhara Industries Limited, Pak Elektron Limited, International Industries Limited, and Azgard Nine Limited have been ousted from the index.
The above changes in the KMI-30 index will be implemented w.e.f. Friday, July 8, 2022.
In the previous re-composition exercise of the KMI-30 index for the review period from January 1, 2021, to June 30, 202, PSX added 3 companies namely; Pioneer Cement Limited, Byco Petroleum Pakistan Limited, and Azgard Nine Limited in place of Pakistan Intl. Bulk Terminal Limited, Sui Northern Gas Pipeline Limited and Honda Atlas Cars (Pak) Limited.
