The Pakistan Stock Exchange (PSX) has completed the semi-annual reconstitution of the KSE-Mizan 30 Index (KMI-30) for the period from January 1, 2024 to June 30, 2024. The reconfiguration will take effect on Monday, December 30. 2024, includes the inclusion of seven companies with the elimination of an equal number based on the specified selection criteria.
New additions to the KMI-30 index are Oil and Gas Development Company Limited (OGDC), Sazgar Engineering Works (SAZEW), Pak Elektron Limited (PAEL), Honda Atlas Cars (HCAR), Fauji Foods Limited (FFL), K. – Electric Company Limited (KE), and Daoud Hercules Company Limited (DAWH). These entrants represent a mix of the energy, engineering, automotive and consumer sectors.
On the other hand, the index will deposit Shirat 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 appear in the revised list.
The Index Committee has also identified a contingency plan regarding potential developments involving Engro Corporation (ENGRO), which faces possible trading suspension or delisting due to its arrangement with Dawood Hercules Corporation. If this scenario occurs, the next eligible company will be included in the index according to the established rules.
The restructuring of the KMI-30 reflects PSX’s commitment to maintaining a standard that accurately represents market trends while adhering to Sharia-compliant standards.