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Sensex Latest Revision: Tata Motors is the Newest Entrant, Dr Reddy Exits

Published 17-12-2022, 03:01 pm
© Reuters.

By Malvika Gurung

Investing.com -- Starting Monday, Dec 19, 2022, the pharmaceutical giant Dr. Reddy’s Laboratories (NS:REDY) will no longer be a part of the benchmark equity index Sensex, as it has been replaced by the behemoth Tata Group company Tata Motors (NS:TAMO).

In the semi-annual rebalance of the 30-scrip headline index scheduled on Dec 16, 2022, Tata Motors has toppled Dr Reddy’s Labs, based upon a weighted methodology of float-adjusted market capitalization. Experts believe that the rejig has been made on the basis of stock performance.

The semi-annual reshuffle is done twice a year in June and December.

As per an Investing.com report dated Dec 15, 2022, Nuvama Alternative and Quantitative Research estimated an inflow of $124 million in Sensex with the entry of Tata Motors having a weightage of 1.1% and an outflow of $90 million by the exit of Dr Reddy's Labs.

IIFL Alternative Research has pegged an inflow of nearly $150 million and an outflow of about $130 million in the headline index by the periodic rejig.

With the exit of Dr Reddy’s Labs, only one pharmaceutical stock now remains in Sensex, the mega-cap stock Sun Pharmaceuticals (NS:SUN).

Further, Adani Power (NS:ADAN) and Indian Hotels (NS:IHTL) Company will replace Adani Total Gas (NS:ADAG) and Hindustan Petroleum (NS:HPCL) in the BSE 100 index as well as the Sensex Next 50 index, BSE had announced.

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