December 26, 2022 (MLN): The Pakistan Stock Exchange (PSX) has replaced three companies in the KSE 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, 2022, to June 30, 2022, as a result of which, three companies namely; TPL Properties Limited, Fauji Cement, and Pak Elektron Limited have been included in the index.

On the other hand, Hub Power Company Limited, Sui Northern Gas Pipeline, and International Industries 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 with effect from December 30, 2022.

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Posted on: 2022-12-26T13:47:20+05:00