CNX PHARMA

CNX Pharma Index captures the performance of the pharmaceutical sector. The Index comprises of 10 companies listed on National Stock Exchange of India (NSE). CNX Pharma 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 Pharma Index can be used for a variety of purposes such as benchmarking fund portfolios, launching of index funds, ETFs and structured products. Index Variants: CNX Pharma Total Returns Index.

Eligibility Criteria for Selection of Constituent Stocks i. Companies must rank within the top 500 companies by average free-float market capitalization and aggregate turnover for the last six months. ii. Companies should form a part of pharmaceutical sector. iii. The company's trading frequency should be at least 90% in the last six months. iv. The company should have reported a positive net worth. v. The company should have an investable weight factor (IWF) of at least 10%. vi. 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. vii. Final selection of 10 companies shall be done based on the free-float market capitalization of the companies. Bloomberg: CNXPHRM Index Thomson Reuters: .CNXPHARM Contact Us: Email: iisl@nse.co.in Tel: +91 22 26598386 Fax: +91 22 26598120

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 semiannual review of indices, average data for six months ending the cut-off data is considered. Six weeks prior notice is given to market from the date of change. Index Govenance: A professional team at IISL manages CNX Pharma Index. There is a threetier governance structure comprising the Board of Directors of IISL, the Index Policy Committee, and the Index Maintenance Sub-Committee.

Index Methodology

CNX PHARMA
December 31, 2012

Portfolio Characteristics Methodology: No. of Constituents: Launch Date: Base Date: Base Value: Calculation Frequency: Index Rebalancing: Index PE: Free Float Market Capitalization 10 July 01, 2005 January 01, 2001 1000 Real-time Daily Semi-Annually 44.74

Statistics QTD YTD Returns (%) 7.33 31.88 1 Year 5 Years 31.88 13.70 Since Inception 16.15

QTD, YTD and 1 year returns are not annualized

1 Year Std. Deviation Beta (Nifty) Correlation (Nifty) 0.72 0.35 0.47

5 Years 1.29 0.50 0.70

Since Inception 1.29 0.55 0.68

1 Year Performance Comparison of Sector Indices

Top 10 constituents by weightage Companys Name Sun Pharmaceutical Industries Ltd. Dr. Reddy's Laboratories Ltd. Cipla Ltd. Lupin Ltd. Glaxosmithkline Pharmaceuticals Ltd. Ranbaxy Laboratories Ltd. Glenmark Pharmaceuticals Ltd. Divi's Laboratories Ltd. Cadila Healthcare Ltd. Piramal Enterprises Ltd. Weight (%) 21.92 18.32 16.64 11.55 7.17 6.12 5.85 5.55 3.69 3.18

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 to provide any professional advice.