Adani Enterprises Set To Replace Wipro In BSE Sensex, Becomes First Adani Group Stock In Benchmark

In a significant reshuffle of the BSE Sensex, Adani Enterprises is expected to replace Wipro, according to a note from IIFL Alternative Research. The official announcement is anticipated on Friday, May 24, coinciding with the semi-annual rebalancing exercise for the BSE indices.

This would mark a historic milestone as Adani Enterprises becomes the first company owned by the Gautam Adani-led conglomerate to be included in the prestigious 30-share BSE Sensex index.

IIFL Alternative Research forecasts that Adani Enterprises' inclusion in the Sensex will attract inflows worth $118 million (nearly Rs 1,000 crore) from passive funds that track the index. Conversely, Wipro is expected to experience outflows of $56 million (about Rs 500 crore) due to its exclusion.

Adani Enterprises stock has seen a robust performance, gaining more than 10 per cent since January this year, including a 2 per cent rise on Thursday. In contrast, Wipro has declined by over 2.3 per cent year-to-date. AEL stock has risen by over 10 per cent since Januray.

On May 23, following its addition to the Sensex, AEL gained over 3 per cent, trading at Rs 3,234.55 on the BSE at 12:10 pm. Other group stocks also saw gains; Adani Ports and Special Economic Zone rose by 0.90 per cent, Adani Power by 1.37 per cent, Adani Energy Solutions by 0.68 per cent, Adani Green Energy by 0.98 per cent, Adani Total Gas by 0.48 per cent, and Adani Wilmar by 1.22 per cent.

At 2 pm, shares of Adani Enterprises rose 6.66 per cent to Rs 3,348.85 on the BSE on Thursday.

Meanwhile, Adani Group's market capitalisation (Mcap) on Wednesday regained $200 billion-mark (Rs 16.9 lakh crore) after its listed firms gained Rs 11,300 crore as investors reposed faith on the company denying any wrongdoing in supply of coal to Tamil Nadu power company.With Rs 11,300 crore gain on Wednesday, the apples-to-airport conglomerate gained Rs 56,250 crore in Macp in the past two trading sessions, stock exchange data showed.

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