Adani Enterprises may replace Wipro from Sensex: What it means for Adani Group
IIFL Alternative Research said that the addition of Adani Enterprises to the Sensex will result in inflows worth almost ₹1,000 crore from passive funds.
Stock of Adani Enterprises expected to replace Wipro on BSE Sensex in the upcoming rejig of the benchmark index, IIFL Alternative Research said in a note. The official announcement is anticipated on May 24 as the semi-annual rebalancing exercise for the BSE indices will take place. If this happens, this will be the first inclusion of any company owned by the Gautam Adani-led Adani Group in the 30-share BSE index.
IIFL Alternative Research said that the addition of Adani Enterprises to the Sensex will result in inflows worth almost ₹1,000 crore from passive funds tracking the index meanwhile Wipro is projected to see outflows worth ₹500 crore following its exclusion.
IIFL Alternative Research also said there are five possible additions and deletions to the BSE 100 index. Jio Financial Services, Adani Green Energy, REC, Adani Power and Adani Energy Solutions may dislodge Page Industries, SBI Cards and Payment Services, ICICI Prudential Life Insurance Company, Zee Entertainment Enterprises and Jubilant FoodWorks.
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IIFL Alternative Research also said there are five possible additions and deletions to the BSE 100 index. Jio Financial Services, Adani Green Energy, REC, Adani Power and Adani Energy Solutions may dislodge Page Industries, SBI Cards and Payment Services, ICICI Prudential Life Insurance Company, Zee Entertainment Enterprises and Jubilant FoodWorks.
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