Adani Ports and Special Economic Zone is set to unseat Wipro from S&P BSE Sensex on June 24, making it the first company from the Adani Group to enter the benchmark 30-stock index. The announcement — part of BSE’s semi-annual index review — was made by Asia Index, which is a joint venture between S&P Dow Jones Indices and BSE.
On Thursday, expectations that Adani Enterprises would replace Wipro had pushed the Adani flagship’s stock nearly 8% higher. Adani Ports too had risen nearly 5%.
Adani Ports has risen 35% so far in 2024, while Wipro has fallen around 3%. It has also outperformed Adani Enterprises, which has risen 16% in this period.
Changes to other S&P BSE indices were also announced as part of the semi-annual index review. REC, HDFC Asset Management Company, Canara Bank, Cummins India and Punjab National Bank will be added to the BSE 100 index. They will replace Page Industries, SBI Cards and Payment Services, ICICI Prudential Life Insurance Company, Jubilant FoodWorks and Zee Entertainment Enterprises. Meanwhile, Yes Bank and Canara Bank will replace AU Small Finance Bank and IDFC First Bank in the S&P BSE Bankex.