Adani Stocks’ Addition to NSE Indices to Boost Inflows By $189 Mill: Rejig Ahead

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Adani Stocks’ Addition to NSE Indices to Boost Inflows By $189 Mill: Rejig Ahead
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The flagship entity of the ports-to-power conglomerate Adani (NS: APSE ) Group, Adani Enterprises (NS: ADEL ) will be added to the country’s most most-tracked and revered benchmark equity index Nifty50 on Sept 30, making it the second Adani Group company to be listed in Nifty50 after the multi-port operator stock Adani Ports & SEZ.

The mega-cap Adani stock’s inclusion in the headline index would see the removal of cement manufacturer Shree Cement from it on Friday.

The leading stock exchange will rebalance several of its other key indices, including Nifty Next 50 or Junior Nifty, Nifty Bank , Nifty 500 , Nifty 200 and Nifty 100 on Friday.

According to Edelweiss (NS: EDEL ) Alternative and Quantitative Research, the inclusion of Adani Enterprises in Nifty50 would attract an inflow of $336 million. At the same time, the stock would be removed from the Nifty Next 50 index on Sept 30, which will lead to an outflow of nearly $147 million, generating a net inflow of $189 million.

Besides, the exclusion of Shree Cements (NS: SHCM ) from the Nifty50 index is expected to lead to an outflow of $56 million, as per Edelweiss.

Further, other Adani Group stocks to be added under the NSE indices in its semi-annual rejig include:

  • Adani Wilmar (NS: ADAW ) - in the broadest market index Nifty 500; Nifty Midcap 100, Nifty Midcap 150 and Nifty 200.
  • Adani Total Gas (NS: ADAG ) - in Nifty Next 50 or Nifty Junior, Nifty 100, Nifty Midcap 100 and Nifty Midcap 150. It can see an inflow of $42 million during the rejig.

Read Also: NSE Indices Rejig on Sept 30: Hefty Inflows Likely in Nifty50, Nifty Bank & More

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  • Ashish Kumar @Ashish Kumar
    Adani Enterprises will have a weightage of under 1% in Nifty 50. People need to calm down a little.
    Like 0
  • F.M. Lakhani @F.M. Lakhani
    Now onwards Nifty will be more vulnerable for manipulation .
    Like 2
    • Rahul Salunkhe @Rahul Salunkhe
      That seems a valid judgemet. As most of the stocks are with ambani and adani. And mostly the debt with adani seems hugh adding up a risk to it. Maybe sebi has cross validated this.
      Like 0
    • VikramG DOer @VikramG DOer
      Debt is an issue but also look at the assets they own.
      Like 0
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  • Aditya Malhotra @Aditya Malhotra
    This dude will take everything south with him
    Like 1

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