Dr Reddy’s Labs Exits the Crucial Gauge Next Week
In last eight years on the benchmark Sensex, India’s healthcare sector will have the lightest weighting, when Dr Reddy’s Labs exits the crucial gauge next week after a tepid run from the entire pharmaceuticals industry.
YES Bank and IndusInd Bank in the Sensex as part of the reconstitution replaced two pharmaceutical stocks Lupin and Cipla in December.
Any change in index weights can result in portfolio churns for major funds in the long run. Vedanta Ltd is India’s largest producer and exporter of iron ore in the private sector. The company is a diversified global metals and mining company. It is engaged in the business of exploration, mining and processing of iron ore. It has mining operations in Goa and Karnataka in India. While iron ore from its Goa mines is shipped through the Mormugoa port, the ore from Karnataka mines is exported through the ports of Goa, Mangalore and Krishnapatnam.
The company operates in three business segments: iron ore, metallurgical coke and pig iron. The company is also engaged in producing pig iron and metallurgical coke. The pig iron business focuses on the domestic Indian market, especially to foundries and steel mills in western and southern India.