HNB, Hemas and SLT added to the S&P SL 20 index

The Colombo Stock Exchange (CSE) last Friday announced three new inclusions to the S&P SL 20 index made by S&P Dow Jones Indices at the 2023 mid-year rebalance.

The inclusions are Hatton National Bank PLC (HNB), Hemas Holdings PLC and Sri Lanka Telecom PLC (SLT).
The three exclusions from the index are Brown & Co. Ltd., Teejay Lanka PLC and Watawala Plantation PLC.
“The exclusion and inclusion as announced by S&P Dow Jones Indices, effective from 19th June 2023 (after the market close of 16th June 2023) are presented below,” the CSE said in a statement.  S&P SL 20 index includes the 20 largest companies, by total market capitalisation, listed on the CSE that meet minimum size, liquidity and financial viability thresholds. 

The constituents are weighted by float-adjusted market capitalisation, subject to a single stock cap of 15 percent, which is employed to reduce single stock concentration. 

S&P SL 20 index has been designed in accordance with international practices and standards. All stocks are classified according to the Global Industry Classification Standard (GICS), which was co-developed by S&P Dow Jones Indices and MCSI and is widely used by market participants throughout the world.
To be eligible for inclusion, a stock must have a minimum float-adjusted market capitalization of Rs.500 million, a six-month median daily value traded of Rs 0.25 million and have positive net income over the 12 months prior to the rebalancing reference date.