This Adani Group stock to be included in Sensex from June 24, replacing Wipro

Wipro Ltd will be excluded from the Sensex pack from June 24 and a Adani Group stock will replace it, stock exchange BSE said on Friday. As a part of semi-annual reconstitution exercise of BSE indices, Adani Ports and Special Economic Zone Ltd (APSEZ) is scheduled to be included in Sensex. This inclusion will be a first for any Gautam Adani-led company to enter the 30-share BSE pack.

According to Nuvama, the addition of Adani Ports to Sensex will result in inflows worth $252 million from passive funds tracking the index. Wipro to see an outflow of $161 million, the brokerage added.

In BSE100, there were five additions and deletions, respectively. Page Industries Ltd, SBI Cards and Payment Services Ltd, ICICI Prudential Life Insurance Company Ltd, Jubilant FoodWorks Ltd and Zee Entertainment Enterprises Ltd will be dropped and REC Ltd, HDFC Asset Management Company Ltd, Canara Bank, Cummins India Ltd and Punjab National Bank will be added, BSE stated.

In BSE Sensex 50, Divi's Laboratories Ltd will be replaced by Trent Ltd.

BSE Bankex will two additions and deletions, each. YES Bank and Canara Bank will replace AU Small Finance Bank Ltd and IDFC First Bank Ltd.

And, in BSE Sensex Next 50, there will be six additions and deletions, each. Trent Ltd, Page Industries Ltd, SBI Cards, ICICI Prudential Life Insurance Company Ltd, Jubilant FoodWorks Ltd and ZEEL will be replaced by REC Ltd, Punjab National Bank, Divi's Labs, HDFC AMC, Canara Bank and Cummins India Ltd, BSE further said.

At present, Adani Ports is a part of Nifty 50 index along with its flagship company Adani Enterprises. IIFL Alternative had previously suggested that Adani Ent could enter the Sensex pack. As it turned out, Adani Ports will now get a spot in Sensex.

On the stock-specific front, Adani Ports shares settled 1.89 per cent lower at Rs 1,415.75 today. And, Adani Ent's stock bounced back to levels last seen in January 2023, before a report by US short-seller Hindenburg Research triggered a sell-off in billionaire Adani's ports-to-power conglomerate.

The counter rose 1.91 per cent to hit a 52 week high of Rs 3,456.25. Later, the scrip gave up its entire gains to close 0.19 per cent down at Rs 3,384.65.