Sensex Rejig: Tata Behemoth to Replace Dr Reddy Next Month, $150M Inflow Pegged
By Malvika Gurung
Investing.com -- As part of the periodic rejig in the benchmark equity index Sensex, the stock exchange Bombay Stock Exchange announced on Friday that the domestic automaker Tata Motors (NS: TAMO ) will replace the pharma major Dr. Reddy’s Laboratories (NS: REDY ) next month.
This means that starting December 19, 2022, the pharma giant Dr Reddy’s Labs will no longer remain a part of the 30-index index, while the auto behemoth Tata Motors will be the newest entrant.
According to estimates made by IIFL Alternative Research, Tata Motors’ inclusion in Sensex could lead to an inflow of nearly $150 million, while Dr Reddy’s Laboratories' exclusion could likely see an outflow of about $130 million.
Further, the stock exchange has rejigged the S&P 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 as well.
The domestic bourse has not made any changes in the Indices S&P BSE Sensex 50 and S&P BSE Bankex .
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