BSE rejigs mid-cap, small-cap indices

A total of eight new stocks have been included in BSE Mid-cap index, while 20 existing ones would move out. In the BSE Small-cap index, the exchange would include 42 new scrips and exclude 40 existing ones. The changes will come into effect from 9th January

Mumbai: The Bombay Stock Exchange (BSE) on Wednesday announced changes in its indices for the mid-cap and small-cap segments, which will come into effect from 9th January, reports PTI.

A total of eight new stocks have been included in BSE Mid-cap index, while 20 existing ones would move out. In the BSE Small-cap index, the exchange would include 42 new scrips and exclude 40 existing ones, according to a BSE statement.

Those joining the mid-cap index include Suzlon Energy, Unitech, Jindal Saw, Tata Coffee, Indiabulls Real Estate, Areva T&D India and Bombay Dyeing & Mfg Co.

On the other hand, companies like GlaxoSmithKline Consumer Healthcare, Gujarat NRE Coke, HCL Infosystems, Orchid Chemicals & Pharmaceuticals, SKS Microfinance and Network 18 Media & Investments have been excluded from the Mid-cap index.

Suven Life Sciences, Zenith Infotech, Hindustan Motors are among those being excluded from the BSE Small-cap index.

Those being included in the Small-cap index include Essar Shipping, Balrampur Chini Mills, S Kumars Nationwide, Sujana Towers and Jyothy Laboratories.

In addition, the BSE has included Emami and Gujarat State Fertilizers & Chemicals Ltd in the BSE TASIS Shariah 50, as part of its periodic review.

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TCS adds 200 clients on its SME platform iON

Tata Group Chairman Ratan Tata had launched the product solutions line christened iON early last year which uses cloud computing technology to deliver on-demand services to small and medium businesses.

The country's largest software exporter Tata Consultancy Services (TCS) has added 200 customers in its cloud-based small business line so far, a top official has said.
 

"We have added 200 clients till now and the response is better than what we had initially projected," the city-headquartered company's chief financial officer (CFO) S Mahalingam told reporters.  
 
Tata Group chairman Ratan Tata had launched the product solutions line christened iON early last year which uses cloud computing technology to deliver on-demand services to small and medium businesses, which are otherwise not serviced by a large company like TCS.
 
After launching, TCS had said that it targets to add 1,000 clients by the end of 2011 and has been stressing that though the product line will not contribute significantly to the company's topline to start with, its contributions will increase with time. It had said it expects revenues from the product to cross the USD 1 billion mark in five years.
 
In the late afternoon, TCS was trading at around Rs1,174.40 per share on the Bombay Stock Exchange, 1.86% down from the previous close.

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Opto Circuits gets USFDA nod for cardiac monitor

MySense Heart is yet again a path breaking solution that is designed to manage dynamic challenges of monitoring heart patients.

Medical equipment maker Opto Circuits (India) said it has received approval from the US health regulator to market a cardiac monitoring device in the American market.
 
The company's subsidiary, Cardiac Science Corporation, has received approval from US Food and Drug Administration to sell 'MySense Heart', a wearable cardiac monitor, in the American market, Opto Circuits said in a statement.
FDA clearance for the product was supported by a robust multi-centre clinical trial in the United States and New Zealand conducted in late 2011.
 
“MySense Heart is yet again a path breaking solution that is designed to manage dynamic challenges of monitoring heart patients. It augments our cardiac monitoring suite of products, expanding market addressability and revenues,” said Vinod Ramnani, chairman and managing director, Opto Circuits.
 
“We believe MySense Heart provides a clinically relevant economical solution to the healthcare market which hitherto did not exist. It also opens up opportunities for licensing, private labelling and direct-to-consumer retailing,” he added.
“MySense Heart is the first in a series of wearable, low-cost monitors being developed at Cardiac Science. “We expect to commercially release the product in early 2012 and intend to leverage this revolutionary platform to bring several new products to market,” said Dave Marver, CSC President and CEO.
 
In the late afternoon, Opto Circuits (India) Ltd was trading at around Rs204.85 per share on the Bombay Stock Exchange, 1.01% up from the previous close.

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