BSE SENSEX rejig: Adani Enterprises likely to replace Wipro on benchmark

The official semi-annual rebalancing of the 30-share index is scheduled on Friday, May 24.

If the replacement happens, it will be the first time that any firm of the Gautam Adani-led Adani Group will become a constituent of BSE SENSEX.

Adani Enterprises Ltd shares jumped as much as 7.53% to hit an intraday high of ₹3,377.5 apiece on the NSE on Thursday, amid the speculations of the Adani Group flagship finding its place on SENSEX. On the BSE, the Adani Group stock rallied as much 7.59% to hit an intraday high of ₹3,378.15 apiece.

Experts predict that the addition of Adani Enterprises to the SENSEX is likely to increase inflows worth approximately ₹1,000 crore from passive funds tracking the index. The exclusion of Wipro on the other hand is likely to cause outflows amounting to nearly ₹500 crore.

Shares of Adani Enterprises have gained 14.99% year-to-date (YTD) on the BSE. On the other hand Wipro's shares have fallen 2.6% in the same time period.

Experts believe that five stocks may be added or deleted from the BSE 100 index in the upcoming rejig. The five stocks that are likely to be added to the index include— Jio Financial Services, Adani Green Energy, REC, Adani Power and Adani Energy Solutions.

On the other hand Page Industries, SBI Cards and Payment Services, ICICI Prudential Life Insurance Company, Zee Entertainment Enterprises and Jubilant FoodWorks could be removed from BSE100 index.

Adani Enterprises shares were trading ₹3,348.25 apiece, up 6.6%, on the NSE at 1:57 pm.