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.

Adani group chairman Gautam Adani is seen. (ANI)

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.

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.

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.