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NSE Indices on Wednesday launched a value-factor based smart-beta index — Nifty500 Value 50, which consists of 50 companies from its parent Nifty 500 index. The stocks were selected on their ‘value score’, which is based on earnings to price ratio, book value to price ratio, sales to price ratio and dividend yield, said a release from the NSE. The weight of each stock in the index is based on a combination of stock’s value score and its free float market capitalisation. The index composition will be reconstituted on a semi-annual basis, the release added.
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