Adani Enterprises may throw out Wipro from Sensex next month
Adani Enterprises is poised to join Sensex, possibly replacing Wipro, in BSE's semi-annual rejig. Expected inflows of $118 million for Adani, and outflows of $56 million for Wipro. Sensex, India's key index, represents the top 30 firms.
A sustained rally in shares of Gautam Adani's flagship entity may see the heavyweight entering after a month by replacing IT major .Stock exchange is likely to announce its semi-annual of tomorrow while adjustments will take place on June 21.
"We expect the of and the of Wipro from Sensex. In BSE100, we expect 5 additions and deletions," said.
The inclusion is expected to result in $118 million inflows into Adani Enterprises while Wipro may see outflows of 56 million from passive funds tracking Sensex. In the last 6 months, the Adani stock is up nearly 49% while Wipro is up over 16%.
Both the are already part of the .
In the last rejig, which came into effect from December 19, 2023, auto major had replaced pharma stock .
Sensex
Designed to measure the performance of the 30 largest, most liquid and financially sound companies across key sectors of the Indian economy that are listed on the BSE, is India’s most tracked bellwether index.
Launched on January 1, 1986, Sensex covers more than 40% of total market cap of the listed universe on the BSE. Based on float-adjusted market cap weighted methodology, the index is rebalanced twice every year -- in June and December. The top 10 Sensex constituents by index weights include HDFC Bank, Reliance Industries, ICICI Bank, Infosys, L&T, ITC, TCS, Bharti Airtel, Axis Bank and SBI.
Source: Stocks-Markets-Economic Times
