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BSE to remove RCom, Infra from Sensex

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CIOL Bureau
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MUMBAI, INDIA: The Bombay Stock Exchange said it had decided to exclude mobile operator Reliance Communications and power utility Reliance Infrastructure, both controlled by billionaire Anil Ambani, from the Sensex.

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The companies will be replaced by state-run Coal India, the world's largest coal miner, and leading drug maker Sun Pharmaceutical Industries in the main 30-share index, the exchange said in a statement on Friday.

The changes will be effective from August 8, the exchange said, without giving a reason for the move.

Shares in Reliance Communications, India's second-largest mobile operator, and Reliance Infrastructure are the two worst Sensex performers this year - down 35 per cent and 32 per cent, respectively, while the main index has fallen 12 per cent.

Shares in Coal India, in which the government sold a 10 percent stake last year for $3.4 billion in the country's largest ever IPO, is up 25 per cent, while Sun Pharmaceutical shares have risen nearly 2 per cent so far this year.