Nifty 50 rejig: Adani Enterprises replaces Shree Cement; IRCTC, Adani Total Gas, HAL enter Nifty Next 50

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Gautam Adani-led Adani Enterprises will become part of Nifty 50 from Friday, 30 September, in NSE’s upcoming semi-annual index rejig. Adani Enterprises will replace Shree Cement from the 50-stock index. This is the second Adani stock to be included in the Nifty 50 index after Adani Ports and Special Economic Zone. Apart from Nifty 50, changes have been announced in Nifty Next 50, and Nifty IT. Adani group has seven established listed entities, including Adani Green Energy, Adani Power, Adani Total Gas, Adani Transmission, Adani Ports and Special Economic Zone, Adani Wilmar, and Adani Enterprises.

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In the last 6 months, Adani Enterprises’ share price is up 86.5 per cent, on the other hand, Shree Cements stock is down 10 per cent and is trading at a price of Rs 20,963.5 per share. “We at Edelweiss Alternative & Quantitative Research have analysed the flow impact led by rebalance and recapping of stocks in key indices (Nifty 50 , Nifty Bank and CPSE Index) and inclusion/exclusion in Nifty Next 50 and Nifty IT,” the report said. 

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IRCTC, Adani Total Gas, others enter Nifty Next 50

Nifty Next 50 index will see the entry of marquee names such as Bharat Electronics, Shree Cements, Adani Total Gas, Hindustan Aeronautics (HAL), IRCTC, Mphasis, and Motherson Sumi Wiring India. Moving out of the junior Nifty index will be Adani Enterprises, Dominos operator Jubilant FoodWorks, MindTree, Lupin, Punjab National Bank (PNB), SAIL, and Zydus Lifesciences.

Persistent Systems replaces Mindtree in Nifty IT

For the Nifty IT index, Edelweiss noted that Persistent Systems’ stock will enter the index replacing Mindtree. Inflows towards Persistent Systems (PSYS) will be around $16 million, and outflows from Mindtree would be around $23 million. However, no changes to the Nifty Bank index and Nifty CPSE have been made.