NEW DELHI : Country’s largest port operator Adani Ports and Special Economic Zone (APSEZ) will replace IT major Wipro in the prestigious 30-share BSE Sensex index from June 24, according to an official announcement on Friday.
This marks the first inclusion of any Adani Group firm in Sensex. The group, promoted by billionaire Gautam Adani, has 10 listed firms with a combined market valuation surpassing Rs 17 lakh crore. Notably, both APSEZ and Wipro are constituents of NSE’s Nifty index, the other benchmark index of India’s equity market. Adani Group flagship company Adani Enterprises is also part of the Nifty index.
The changes will be effective from June 24, 2024, Asia Index, a joint venture between S&P Dow Jones Indices and BSE, said in a statement adding that the replacement is a part of periodic review.
Adani Ports’ inclusion in the Sensex will attract inflows of $252 million from passive funds that track the index, according to IIFL Alternative Research. Wipro is expected to see an outflow of $161 million.
While Adani Ports’ shares have gained more than 90% in one year, Wipro shares have advanced 16%. In addition, Tata Group company Trent Ltd will enter S&P BSE Sensex 50, while Divi’s Laboratories will be dropped from the index. Apart from these, changes have been announced in S&P BSE 100, S&P BSE Bankex and S&P BSE Sensex Next 50. In S&P BSE 100 index, REC, HDFC Asset Management Company, Canara Bank, Cummins India and PNB will be included.
To see fund inflows
Adani Ports’ inclusion in Sensex will attract inflows of $252 mn from passive funds that track the index, as per IIFL Alternative Research