Adani Ports & SEZ to Join Sensex on June 24, Replacing Wipro

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Synopsis:

Adani Ports is to join Sensex on June 24, replacing Wipro. Amid accusations of stock manipulation, Adani Group's share prices plummeted by 30-80%, now surpassing pre-controversy levels. Sensex comprises 30 top companies, reflecting India's market performance, with a total market cap of ₹419.99 lakh crore.

Adani Port News Today

Adani Ports and Special Economic Zone Ltd (APSEZ) will become the first Adani Group company included in the Sensex at the Bombay Stock Exchange, replacing Wipro on June 24.

Over a year after activist short-seller Hindenburg Research accused the Adani Group of stock manipulation and accounting fraud, Adani companies' share prices, including APSEZ and Adani Enterprises, have recovered to levels higher than before the allegations.

Explore: Adani Port and Sez

Biannual Reconstitution

Sensex is reconstituted biannually in June and December, with companies needing to meet stringent eligibility requirements, including average three-month float, free-float market cap, and liquidity criteria.

Additional Read: Adani Ports

Understanding Sensex

Sensex, comprising 30 stocks, is India's oldest and most tracked index, measuring the performance of the largest, most liquid, and financially sound companies across key sectors of the Indian economy listed at BSE. As of May 24, the total market capitalization of BSE-listed firms stood at ₹419.99 lakh crore.

Additional Read: Adani Ports Out of Norwegian Central Bank’s Pension Fund

Selection Criteria for Sensex

Companies selected for Sensex must meet specific requirements, including a listing history of at least six months, trading on every trading day during this period, having a derivative contract, and meeting market capitalization and liquidity criteria.

Additional Read: Adani Ports & Special Economic Zone (APSEZ) Q4 Results

Liquidity Assessment

Prospective constituents' liquidity is assessed based on the cumulative weight of the three-month average daily value traded (ADVT), with companies exceeding 98% ADVT weight being excluded from the index.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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