Adani Enterprises to Replace Wipro in Sensex, Expected Changes in BSE Indices - Key Details and Market Impact

Adani Enterprises Ltd is set to make a significant move by replacing Wipro in the prestigious Sensex index in an upcoming reshuffle exercise for BSE indices. The official announcement for this change is anticipated to be made on Friday, May 24. IIFL Alternative Research has predicted that Adani Enterprises will be welcomed into the Sensex while Wipro will be exiting.

Additionally, five additions and deletions are expected in the BSE100 index as well. The inclusion of Adani Enterprises in the Sensex is indeed a landmark moment for the Adani Group, marking the first time a company under Gautam Adani's leadership secures a spot in the 30-share BSE pack. According to IIFL Alternative Research, this move is estimated to attract investments amounting to $118 million (roughly Rs 1,000 crore) from passive funds that mirror the index.

On the other hand, Wipro is likely to witness outflows of about $56 million (approximately Rs 500 crore) due to its removal from the index. Notably, both Adani Enterprises and Wipro are already part of the Nifty index. In the previous reshuffle that took place on December 19, 2023, Tata Motors had replaced pharmaceutical giant Dr.

Reddy's Laboratories in the Sensex. The brokerage firm also highlighted that the BSE 100 index is poised for five changes, with REC, Jio Financial Services, Adani Power, Adani Green Energy, and Adani Energy Solutions potentially replacing ICICI Prudential Life Insurance Company, Page Industries, Zee Entertainment Enterprises, SBI Cards and Payment Services, and Jubilant FoodWorks. Thursday's trading session saw a notable rise in the shares of Adani Enterprises, which surged by 8.

58% to attain a 52-week high of Rs 3,409.05. The trading volume on the BSE exceeded the two-week average, with approximately 3.

37 lakh shares changing hands. The total turnover for the day amounted to Rs 111.85 crore, contributing to an impressive market capitalization (m-cap) of Rs 3,86,597.

18 crore. During the same trading session, Adani Ports observed a 4.72% increase, while Adani Power saw a rise of 2.

79%. Responding to a news report alleging that the Adani Group had supplied inferior quality coal to a state-owned power generation company years ago, an Adani spokesperson vehemently denied the claims. The spokesperson stated that the accusations were "false and baseless" and clarified that the coal supplied undergoes quality testing at the receiving plant regardless of the supplier's declaration.

It is worth noting that Adani Enterprises' entry into the Sensex and the anticipated changes in the BSE 100 index signify a significant reshuffle in the Indian stock market. Investors and market analysts will be keenly observing the impact of these changes on the respective companies and the overall indices in the coming days.