Adani Enterprises may replace Wipro from Sensex: What it means for Adani Group - Hindustan Times
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Adani Enterprises may replace Wipro from Sensex: What it means for Adani Group

May 23, 2024 12:25 PM IST

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.

Adani group chairman Gautam Adani is seen. (ANI)
Adani group chairman Gautam Adani is seen. (ANI)

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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.

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Since January this year, Adani Enterprises stock has gained more than 10 per cent while Wipro has fallen more than 2.3 per cent year-to-date.

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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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