Adani Enterprises replaces Shree Cement in the Nifty 50; IRCTC, Adani Total Gas, and HAL join the Nifty Next 50.

Adani Enterprises, managed by Gautam Adani, will join the Nifty 50 on Friday, September 30, as part of the NSE’s upcoming semi-annual index rejig. Shree Cement will be replaced in the 50-stock index by Adani Enterprises. After Adani Ports and Special Economic Zone, this is the second Adani stock to be listed in the Nifty 50 index. Aside from the Nifty 50, changes have been announced for the Nifty Next 50 and the Nifty IT. Adani Green Energy, Adani Power, Adani Total Gas, Adani Transmission, Adani Ports and Special Economic Zone, Adani Wilmar, and Adani Enterprises are among the seven established listed firms in the Adani group.

Adani Enterprises’ inclusion in the Nifty 50 index, according to earlier estimates by Edelweiss Alternative and Quantitative Research, would have resulted in $285 million in inflows into the company. However, according to the research firm’s most recent assessment report, dated September 28, this inclusion will result in $336 million in inflows. Adani Enterprises’ share price has more than quadrupled this year, rising 107.4 percent to Rs 3,561 per share. Meanwhile, Shree Cements’ stock price is down 23% during the same time period.

Bharat Electronics, Shree Cements, Adani Total Gas, Hindustan Aeronautics (HAL), IRCTC, Mphasis, and Motherson Sumi Wiring India will join the Nifty Next 50 index. Adani Enterprises, Dominos operator Jubilant FoodWorks, MindTree, Lupin, Punjab National Bank (PNB), SAIL, and Zydus Lifesciences will exit the junior Nifty index.

Edelweiss stated that Persistent Systems’ stock will replace Mindtree in the Nifty IT index. Persistent Systems (PSYS) will get approximately $16 million in inflows, while Mindtree will receive approximately $23 million in outflows. However, no modifications have been made to the Nifty Bank index or the Nifty CPSE.

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