Adani Enterprises To Enter Nifty 50 index; Nearly Doubles Investor Wealth in 2022 so Far

Adani Enterprises To Enter Nifty 50 index: Adani Enterprises will join the benchmark index, the most tracked stocks gauge in the country, from September 30 in place of Shree Cement. The changes will be effective from 30 September. This would be the second Adani stock to be included in the Nifty index, after Adani Ports and Special Economic Zone.

Shares of Adani Enterprises hit a record high of Rs 3,290 after they gained 2 per cent on the National Stock Exchange (NSE) in Friday’s intra-day trade.

So far in 2022, the stock has nearly doubled investors’ money.  In the past six months, the market price of Adani Enterprises has doubled from a level of Rs 1,641, as compared to a 5.5 per cent rise in the Nifty 50 index. Shares of Shree Cement declined 3 per cent to Rs 21,033 on the NSE today, andhave slipped 12 per cent in the past six months.

The Index Maintenance Sub-Committee – Equity (IMSC) of NSE Indices Limited has decided to make the changes as a part of its periodic review, a release said on Thursday.Adani Enterprises, the flagship Gautam Adani Group company, is one of the fastest growing diversified businesses that provide an extensive range of products and services. The company operates as an incubator, establishing new businesses in transport and logistics, and energy & utility sectors, apart from increasing focus on direct-to-consumer businesses.

AEL is leading decarbonization initiative of industries and mobility through Adani New Industries Limited (ANIL). Other next-generation of AEL’s strategic business investments are centered around airport management, roads, data center and water infrastructure, which has significant scope for value unlocking.

Apart from Nifty 50, changes have been announced in other indices – Nifty Next 50, Nifty 500, Nifty 200 and Nifty 100.

PSU stock IRCTC has been included in the Nifty Next 50 index in the rebalancing of NSE indices.

Also, Adani Total Gas Ltd, Bharat Electronics Ltd, Hindustan Aeronautics Ltd, MphasiS Ltd, Samvardhana Motherson International and Shree Cement Ltd will find a place in the Nifty Next 50.

According to an official release, no changes have been made in Nifty Aditya Birla Group, Nifty Mahindra Group and Nifty Tata Group indices.

Separately, NSE Indicies has decided to exclude B&B Triplewall Containers and SecUR Credentials from Nifty SME Emerge index on account of proposed migration of these firms from NSE’s SME Emerge platform to the exchange’s main board.

Should you Invest?

Manoj Dalmia, Founder and Director-Proficient Equities Limited, said: “Adani Enterprises Ltd is all set to enter NSE’s Nifty 50 from September 30. Adani Ent. stock touched a new 52-week high on 2nd September 2022. The company’s annual revenue growth outperformed its own 3-year CAGR. The CMP is at 3,350 and investors can look forward to its stocks as they can accumulate to a level of 3,600 as it enters Nifty.”

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