The shares of Adani Ports & SEZ started trading on the 30-stock benchmark index, BSE Sensex, from Monday after the index was restructured to exclude Wipro.
Following Adani Ports inclusion in the Sensex basket, brokerage firm Nuvama stated that it expects passive inflows of $259 million along with the addition of 14.9 million shares. It also said that Wipro's exclusion might result in outflows of $170 million.
This development comes as the Adani Group chairman, Gautam Adani, addressed the Annual General Meeting of the company, saying the "true measure of success is our ability to stand firm in the face of adversity."
"Perseverance never more evident than what we demonstrated last year. Adani Group fought back against attacks on integrity, and reputation by foreign short sellers. Proved no challenge can weaken the foundations of the Adani Group," Adani was quoted as saying by NDTV.
Stocks that are slated to see their weights increasing in the Sensex basket amid rejig include top 10 firms ICICI Bank, Bharti Airtel and Infosys as well as Kotak Mahindra Bank, Tech Mahindra, Tata Steel and IndusInd Bank.
On the other hand, stocks expected to witness a weight loss include Top 10 firms like Reliance Industries, HDFC Bank and ITC besides the likes of Mahindra & Mahindra, Bajaj Finserv, Maruti Suzuki and Larsen & Toubro.
