Adani Ports to replace Wipro in Sensex from June 24

Adani Ports and Special Economic Zone of India is set to take over Wipro's spot in the 30-stock blue-chip index, as stated by the index operator on Friday.

This choice was made as part of BSE's semi-annual rebalancing activity and will take effect on June 24.

The biggest private port operator in the country, which belongs to the Adani Group, will be the first of the group to be included in the esteemed 30-stock Sensex. After being added to the Sensex index, Adani Ports is expected to gain $252 million in investments, while Wipro might experience $161 million in outflows, according to Abhilash Pagaria, head of Nuvama Alternative and Quantitative Research as reported by Reuters.

Adani Ports was added to the Sensex on the day when Adani Enterprises' shares rebounded in intraday trading to levels not seen since January 2023, following a sell-off caused by a report from Hindenburg Research on Gautam Adani's diverse business empire.
Following that report, Adani Ports and Adani Power have been the top-performing stocks within the group, experiencing increases of 86.04 percent and 157.4 percent, respectively.

They were the initial two Adani businesses to recover from the decline as well.