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The National Stock Exchange has removed four Adani Group stocks from the Nifty 50 Alpha Index. This change will be effective from March 31. Stocks weighted from the list include Adani Enterprises, Adani Green Energy, Adani Transmission and Adani Total Gas. Also, Adani Ports and Special Economic Zone (APSEZ) have also been excluded from the Nifty 100 Alpha 30 Index. A total of 14 stocks have been removed from the Nifty Alpha 50 index. These include Aditya Birla Fashion and Retail, Angel One, Gujarat Narmada Valley Fertilizers, Page Industries and Suzlon Energy.
Nifty to Aditya Birla Capital, Apollo Tyres, Bank of India, BHEL, Britannia Industries, IDFC First Bank, Jindal Steel & Power, L&T Finance Holdings, M&M Financial Services, MRF, Power Finance Corporation, Punjab National Bank, Siemens and Zydus Lifesciences Ranked in Alpha 50. Nifty High Beta 50 index has also been modified. Five stocks have been excluded and five stocks have been included in their place.
Vodafone Idea, Grasim Industries and Tata Chemicals have been dropped while Adani Total Gas, Adani Transmission and JSW Energy have been included. Similarly, changes have been made in the Nifty Low Volatility 50 index as well. Two Adani Group companies ACC and Ambuja Cement have been dropped while Bharti Airtel and ICICI Bank have been included. Along with this some other strategy indices have also been changed.
Adani Group shares are now de-risked. People are buying shares of Adani Group. Adani Group shares have seen a bumper bounce for the past five days. This mega block deal has instilled confidence among bewildered investors. Adani Group shares have seen a bumper surge in the last five sessions.
Adani Group’s total market valuation reached around Rs 8.85 lakh crore by the end of trading on Monday. On February 27, this market cap was Rs 6.82 lakh crore. In this way, the market capitalization of Adani Group has increased tremendously in the last few days.