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Finance Ministry may replace GAIL, EIL, Container Corp with new PSUs in CPSE ETF

Finance Ministry may replace GAIL, EIL, Container Corp with new PSUs in CPSE ETF

Finance
The Finance Ministry is likely to replace GAIL, Engineers India Ltd (EIL) and Container Corporation with new PSUs in the CPSE Exchange Traded Fund (ETF) since the government holding in these companies has fallen below 55 per cent. CPSE ETF, which functions like a mutual fund scheme, comprises scrips of 10 bluechip PSUs namely ONGC, Coal India, IOC, Oil India, PFC, Bharat Electronics, REC, GAIL, EIL and Container Corporation of India. Officials said three PSUs or more would be included in the CPSE ETF basket to replace GAIL, EIL and Container Corp and the number would depend upon the value of the scrip and the corresponding weightage in the ETF basket. GAIL India, Container Corp and EIL have weightage of 11.25 per cent, 5.08 per cent and 2.28 per cent, respectively in CPSE ETF. CPSE ETF ...