Another Adani group stock in Nifty 50 index from today, replaces Shree Cement
- Adani Ports and Special Economic Zone was the first Adani group stock that entered India's benchmark index in the beginning of FY23
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Business News/ Markets / Stock Markets/ Another Adani group stock in Nifty 50 index from today, replaces Shree Cement
Stock market today: Adani group stock Adani Enterprises today entered Nifty 50 index replacing Shree Cement from the 50-stock index. This is the second Adani group company that has entered the benchmark index, the most tracked stock index in India. Adani Enterprises is the second Adani group company that has been included into Nifty 50 index in May 2022. Adani Ports and Special Economic Zone was the first Adani group stock that entered India's benchmark index.
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During its periodic review in the beginning of September 2022, the Index Maintenance Sub-Committee - Equity (IMSC) of NSE Indices Limited had decided to make the changes in key benchmark index. After the outbreak of this stock market news, Edelweiss Securities had estimated that the periodic review outcome will lead to net flow of $213 million in Adani Enterprises whereas Shree Cement would witness a net outflow of $87 million.
The Edelweiss Securities' estimation seems correct as Adani Enterprises share price today opened with a downside gap and went on to make its intraday low of ₹3,431.70 apiece on NSE. But, the Adani group stock bounced back from its lows and hit intraday high of ₹3,518.60 apiece on NSE, rising to the tune of 2.50 per cent from its intraday low.
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Adani Enterprises share price history
Adani Enterprises shares are one of the multibagger stocks that Indian stock market has delivered in 2022. In YTD time, this multibagger stock has surged from around ₹1,715 apiece levels to ₹3,518 levels, delivering more than 100 per cent return to its shareholders in 2022. In last one year, this multibagger Adani stock has given 135 per cent return whereas in last 5 years, it has given more than 2,700 per cent return to its positional investors.
Current market cap of Adani Enterprises is at ₹3.96 lakh crore. Its 52-week high on NSE is ₹3,885 apiece, which is its life-time high as well. Its 52-week low on NSE is ₹1,367.70 per share.
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