The Pakistan Stock Exchange (PSX) has finalized the semi-annual reconstitution of the KSE-Meezan 30 Index (KMI-30) for the period from January 1, 2024, to June 30, 2024. The recomposition, effective Monday, December 30, 2024, involves the inclusion of seven companies while removing an equal number based on the established selection criteria.
The new additions to the KMI-30 Index are Oil & Gas Development Co. Ltd (OGDC), Sazgar Engineering Works (SAZEW), Pak Elektron Limited (PAEL), Honda Atlas Cars (HCAR), Fauji Foods Limited (FFL), K-Electric Limited (KE), and Dawood Hercules Corporation Limited (DAWH). These entrants represent a mix of energy, engineering, automotive, and consumer sectors.
On the other hand, the index will bid farewell to Cherat Cement Company Limited (CHCC), Dolmen City REIT (DCR), Interloop Limited (ILP), NetSol Technologies Limited (NETSOL), Nishat Mills Limited (NML), Shell Pakistan Limited (SHELL), and TPL Properties Limited (TPLP), which will no longer feature in the revised list.
The index committee has also outlined a contingency plan regarding potential developments involving Engro Corporation (ENGRO), which faces a possible trading suspension or delisting due to its arrangement with Dawood Hercules Corporation. Should this scenario materialize, the next eligible company will be inducted into the index in accordance with prescribed rules.
The KMI-30 Index reconstitution reflects the PSX’s commitment to maintaining a benchmark that accurately represents market trends while adhering to Shariah-compliant standards.
