Wipro to lose its spot in BSE’s Sensex; Tata Group co. to enter Sensex 50

As against estimates, Adani Ports and Special Economic Zone and not Adani Enterprises has bagged the coveted spot in the benchmark Sensex index. According to an official release, Adani Group’s firm- Adani Ports which is also the constituent of the bluechip Nifty50 index will replace IT major Wipro in Sensex from June 24. Wipro, notably, has underperformed the broader BSE IT index over 1 year and delivered 17.7 per cent return as against BSE IT index return of 19.75 per cent.

Adani Ports will be the first company of the conglomerate Adani Group to have bagged the seat in the headline index. Earlier, IIFL Alternative Research expected Adani Enterprises to see an inclusion to the index. 

The rejig is part of the semi-annual review carried out for the index in December and June.

The changes have been announced by Asia Index, a joint venture between S&P Dow Jones Indices and BSE. "Effective at the open of Monday, June 24, 2024, the ... Changes will be made," Asia Index said. The inclusion in key indices results in inflow from passive funds and vice versa and hence based on preliminary calculation, Wipro’s exit was expected to result in outflows to the tune of Rs 500 crore.

Besides, Tata Group’s multibagger scrip Trent will be included in Sensex 50, while Divi’s Laboratories will make an exit.

(With PTI Inputs)