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Index
Methodology
CNX AUTO
The CNX Auto Index is designed to reflect the behaviour and performance of the Automobiles segment of the financial market. The
CNX Auto Index comprises 15 tradable, exchange listed companies. The index represents auto related sectors like Automobiles 4
wheelers, Automobiles 2 & 3 wheelers, Auto Ancillaries and Tyres.
CNX Auto Index is computed using free float market capitalization method, wherein the level of the index reflects the total free float
market value of all the stocks in the index relative to particular base market capitalization value.
CNX Auto Index can be used for a variety of purposes such as benchmarking fund portfolios, launching of index funds, ETFs and
structured products.
Eligibility Criteria for Selection of
Constituent Stocks
Index Re-Balancing:
Index is re-balanced on semi annual
basis. The cut-off date is January 31 and
July 31 of each year, i.e. For semi-
annual review of indices, average data
for six months ending the cut-off data is
considered. Four weeks prior notice is
given to market from the date of change.
Index Govenance:
A professional team at IISL manages
CNX Auto Index. There is a three-tier
governance structure comprising the
Board of Directors of IISL, the Index
Policy Committee, and the Index
Maintenance Sub-Committee.
Companies must rank within the top 500
companies ranked by average free-float
market capitalisation and aggregate turnover
for the last six months.
Companies should form a part of the
Automobiles sector.
The companys trading frequency should be
at least 90% in the last six months.
The company should have reported a
positive net worth.
The company should have an investable
weight factor (IWF) of at least 10%.
The company should have a listing history
of 6 months. A company which comes out
with an IPO will be eligible for inclusion in
the index, if it fulfills the normal eligibility
criteria for the index for a 3 month period
instead of a 6 month period.
Final selection of 15 companies shall be
done based on the free-float market
capitalization of the companies.
Bloomberg:
Thomson Reuters:
CNXAUTO Index
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CNX AUTO
March 31, 2014
Statistics
Returns
QTD YTD 1 Year 5 Years
Since
Inception
1 Year 5 Years
Since
Inception
9.81 9.81 37.37 34.00 18.71
1 Year Performance Comparison of Sector Indices
Top 10 constituents by weightage
Companys Name
Weight
(%)
Tata Motors Ltd. 28.63
Mahindra & Mahindra Ltd. 18.04
Bajaj Auto Ltd. 11.17
Hero MotoCorp Ltd. 10.90
Maruti Suzuki India Ltd. 10.42
Bosch Ltd. 3.94
Motherson Sumi Systems Ltd. 3.10
Eicher Motors Ltd. 2.35
MRF Ltd. 2.24
Exide Industries Ltd. 2.22
Methodology
No. of Constituents
Launch Date
Base Date
Base Value
Calculation Frequency
Index Rebalancing
Free Float Market Capitalization
15
July 12, 2011
January 01, 2004
1000
Real-time Daily
Semi-Annually
Std. Deviation *
Beta (Nifty)
Correlation
19.37
0.83
0.77
22.51
0.88
0.81
25.28
0.81
0.83
Portfolio Characteristics
Fundamentals
P/E P/B Dividend
26.55
4.86 1.12
#
Disclaimer: All information contained herewith is provided for reference purpose only. IISL ensures accuracy and reliability of the above information to the best of its
endeavors. However, IISL makes no warranty or representation as to the accuracy, completeness or reliability of any of the information contained herein and disclaim any
and all liability whatsoever to any person for any damage or loss of any nature arising from or as a result of reliance on any of the information provided herein. The
information contained in this document is not intended
# QTD,YTD and 1 year returns are absolute returns.Returns for greater than one year are CAGR returns.
* Average daily standard deviation annualised