Associated Cement Cos. Ltd. (ACC)         
B.S.E.S. Ltd.         
Bajaj Auto Ltd.         
Bharat Heavy Electricals Ltd. (BHEL)         
Castrol India Ltd.         
Colgate-Palmolive (India)         
Glaxo India Ltd.         
Grasim Industries Ltd.         
Gujarat Ambuja Cements Ltd.         
Hindalco Industries Ltd.         
Hindustan Lever Ltd.         
Hindustan Petroleum Corp. Ltd.         
Indian Hotels         
Industrial Credit and Investment Corp. of India (ICICI)         
Industrial Development Bank of India         
Infosys Technologies         
ITC Ltd.         
Larsen & Toubro Ltd.         
Mahanagar Telephone Nigam Ltd. (MTNL)         
Mahindra & Mahindra Ltd.         
Nestlé India Ltd.         
NIIT         
Novartis India         
Ranbaxy Laboratories Ltd.         
Reliance Industries Ltd.         
State Bank of India (SBI)         
Tata Chemicals Ltd.         
Tata Engineering & Locomotive (TELCO)         
Tata Iron & Steel Co. (TISCO)         
Tata Power Co. Ltd.         
Note: 30 leading stocks based on market capitalization and activity; major industries represented. List as of year-end 1998.

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