Nifty: Adani Enterprises has high chance of entering Nifty in next rejig

Mumbai: Adani Enterprises has a ‘high chance’ of replacing Shree Cement in the benchmark Nifty in the semi-annual index review in September, according to Edelweiss Alternative & Quantitative Research. The changes in the index will be announced in the second half of August, and the rebalancing date would be on September 30. Abhilash Pagaria, head of Alternative and Quantitative Research, said has a ‘higher probability’ of being excluded. The next name on radar would be Hero MotoCorp, said Pagaria.

The recently-listed

could make it to the Nifty Next 50 index, according to Edelweiss.

Tata Power,

, IRCTC, , and Shree Cement could also get added to the Nifty Next 50.

Lupin,

, , , SAIL and could get excluded from the Nifty Next 50.

Adani Green Energy,

and have an average free float market capitalisation that is significantly higher than most of the current Nifty 50 constituents but they have not been included in the benchmark index in the past few reviews as they are not part of the futures and options segment. For inclusion in the Nifty 50, a stock should compulsorily be part of the derivatives segment. Pagaria said if any of these stocks gets included in the derivatives segment till the date of the index changes announcement, they would make it to the Nifty 50 index.