CSE revamps CSE-30, adds GP, LafargeHolcim, drops Square Textiles, Crown Cement

The Chittagong Stock Exchange (CSE) has restructured its benchmark CSE-30 Index, adding four companies and dropping four others following its semi-annual review, with the revised index set to take effect on 30 July 2026.

In a statement issued today (21 July), the bourse said the rebalancing was based on an assessment of listed companies' financial performance and market-related indicators.

The four companies newly included in the index are Grameenphone, Jamuna Bank, LafargeHolcim Bangladesh, and Paramount Textile PLC.

The companies dropped from the index are Crown Cement, National Credit and Commerce (NCC) Bank, Square Textiles, and Uttara Bank PLC.

Following the latest revision, the CSE-30 comprises Bangladesh Shipping Corporation, Bangladesh Steel Re-Rolling Mills (BSRM), Bangladesh Submarine Cables, Beximco Pharmaceuticals, BRAC Bank, British American Tobacco Bangladesh Company, BSRM Steels, City Bank, DBH Finance, Delta Life Insurance Company, Eastern Bank, Eastern Housing, Grameenphone, IDLC Finance, IT Consultants, Jamuna Bank, Jamuna Oil, LafargeHolcim Bangladesh, Meghna Petroleum, MJL Bangladesh, Olympic Industries, Padma Oil, Paramount Textile, Pioneer Insurance Company, Prime Bank, Sonali Paper & Board Mills, Square Pharmaceuticals, The ACME Laboratories, Unique Hotel & Resorts, and Walton Hi-Tech Industries PLC.

According to the CSE, the reconstituted CSE-30 Index represents about 44.69% of the total market capitalisation of all listed companies. On a free-float basis, its constituents account for around 43.13% of the market's total free-float capitalisation.

How companies are selected

Under the CSE's index methodology, the CSE-30 is a rules-based, free-float market capitalisation-weighted index reviewed every six months. Constituents are selected through a two-stage screening process.

In the first stage, companies must meet basic eligibility criteria, including a minimum market capitalisation of Tk600 million, at least 20% free-float shares, trading on at least 70% of trading days during the six-month review period, positive retained earnings, dividends declared in at least one of the previous two years, and no "Z" category classification. 

Financial institutions on Bangladesh Bank's watchlist and companies penalised under securities laws in the past two years are also excluded.

In the second stage, eligible firms are ranked based on financial and market indicators, including net asset value (NAV) per share, earnings per share (EPS), dividend rate, price-to-earnings (P/E) ratio, dividend yield, free-float ratio, price-to-book (P/B) ratio, trading frequency, number of contracts, and the length of continuous inclusion in the CSE-30. The top 30 companies are then selected.

As a free-float market capitalisation-weighted index, the CSE-30 assigns weights based only on publicly tradable shares, excluding holdings of sponsors, directors, the government, strategic investors and shares under lock-in restrictions.

The CSE has followed this methodology since 2013, aligning the index with international benchmark standards used by major global index providers such as MSCI, FTSE and S&P.