Adani Enterprises to be included in Nifty 50 on Friday

29 Sep 2022 , 12:34 PM

From tomorrow Adani Enterprises will be included in  Nifty 50, which is expected to result in passive funds investing a total of $189 million in  the company, according to news reports.

Based on a variety of factors and data from the six-month periods ending in January and July, NSE reorders its indices every two years. Adani Enterprises will replace Shree Cement from Nifty50 in the most recent reorganization.

Nifty50 houses India’s top 50 listed firms based on market capitalization.

This would be the second stock from the Adani Group to be featured in the Nifty50 after Adani Ports.

Shares of Adani Enterprises have more than doubled so far in 2022 in anticipation of its inclusion in the widely followed index, bringing its market valuation above the threshold of Rs4 lakh crore. It has surpassed Asian Paints, Maruti Suzuki, and Kotak Mahindra Bank to become India’s 11th-largest corporation.

Adani Total Gas will be included in the Nifty Next 50, Nifty 100, Nifty Midcap 150, and Nifty Midcap 100 as part of the NSE indices restructuring. The restructuring is expected to result in extra inflows of $42 million for the stock.

The Nifty 500, Nifty Midcap 150, Nifty Midcap 100, and Nifty 200 indices, on the other hand, would all have seats for Adani Wilmar.

Adani Group surpassed Tata Group to become the largest conglomerate in India after the two most recent purchases of ACC and Ambuja Cement. There are nine listed equities in the Adani Group, five of which have so far this year generated gains of above 100%.

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