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The National Stock Exchange of India (NSE), India’s largest stock exchange, today said that effective September 30, Adani Enterprises will replace Shree Cement in the main Nifty50 index. . This will be the second stock held by billionaire Gautam Adani to be listed in the index, after Adani Ports.
According to previous projections from Edelweiss Quantitative and Alternative Research, the addition of Adani Enterprises to Nifty could result in a new investment of $183 million in equities.
Based on a variety of factors and data from the six-month period ending January and July, the NSE assesses the inclusion and exclusion of companies twice a year.
Adani Enterprises market capitalization has grown by more than 88% since the beginning of 2022, reaching Rs 3.68 lakh crore. Based on total market capitalization, Adani Group’s flagship holding company is currently the 17th largest listed company in India. Today, Asian P Paint, Avenue Supermarts, Bajaj Finserv and Maruti Suzuki are overshadowed by Adani Enterprises.
Shree Cement shares, on the other hand, are down about 21% since the start of the year and as of Thursday night its market capitalization is ₹77,922 crore.
Adani Enterprises, Adani Green Energy, Adani Ports, Adani Power, Adani Total Gas, Adani Transmission and Adani Wilmar are just some of the seven listed companies owned by Gautam Adani, who is currently the third richest person in the world. gender. The top 5 stocks in India by market capitalization are Reliance Industries (RIL), TCS, HDFC Bank, Infosys and HUL.