Sensex Rejig Coming Up: Tata Motors to Replace Dr Reddy, Total Inflow & Outflow?

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Sensex Rejig Coming Up: Tata Motors to Replace Dr Reddy, Total Inflow & Outflow?
Credit: © Reuters.

By Malvika Gurung -- The periodic rejig in the benchmark equity index Sensex by the stock exchange Bombay Stock Exchange will take place on Friday, December 16, 2022.

As per the semi-annual rebalance of the 30-scrip headline index, the behemoth Tata Group stock Tata Motors (NS: TAMO ) will replace the pharmaceutical giant Dr. Reddy’s Laboratories (NS: REDY ), which will come into effect from December 19, 2022.

This means that starting Monday next week, Dr Reddy’s Labs will no longer remain a part of Sensex, while the domestic automaker Tata Motors will be the newest entrant.

As per an report dated Nov 20, 2022, IIFL Alternative Research estimated an inflow of nearly $150 million in Sensex by the inclusion of Tata Motors, while Dr Reddy’s Laboratories was pegged to see an outflow of about $130 million.

As per a Nuvama Alternative and Quantitative Research report, TaMo’s entry could see an inflow of $124 million in the benchmark index with a weightage of 1.1%, while Dr Reddy's Labs’ exit is anticipated to witness an outflow of $90 million, having a weightage of 0.8% on the index.

Moreover, BSE also announced a reshuffle of the BSE 100 index, in which Adani Power (NS: ADAN ) and Indian Hotels (NS: IHTL ) Company will replace Adani Total Gas (NS: ADAG ) and Hindustan Petroleum (NS: HPCL ). The same changes will be made to the Sensex Next 50 index too.

The bourse has not made any changes in the indices S&P BSE Sensex 50 and S&P BSE Bankex .

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