NSEShares of Adani Ports & SEZ will start trading on the BSE Sensex from June 24 as part of the index rejig.
The Adani Group company will replace Wipro, whose shares will be excluded.
Adjustments for the same will take place today, June 21.According to Nuvama Alternative and Quantitative Research, shares of Adani Ports may have received inflows worth $259 million on Friday when the adjustment took place.Wipro shares have been excluded from the Sensex.
Nuvama had estimated outflows to the tune of $170 million.Adani Ports has gained in five out of the six months so far in 2024.
Analysts expect the stock to reach levels of ₹1,782 in the next 12 months.Shares of Adani Ports had ended 0.4% higher on Friday at ₹1,745.95.
NSE
Shares of Adani Ports & SEZ will start trading on the BSE Sensex from June 24 as part of the index rejig. The Adani Group company will replace Wipro, whose shares will be excluded. Adjustments for the same will take place today, June 21.According to Nuvama Alternative and Quantitative Research, shares of Adani Ports may have received inflows worth $259 million on Friday when the adjustment took place.Wipro shares have been excluded from the Sensex. Nuvama had estimated outflows to the tune of $170 million.Adani Ports has gained in five out of the six months so far in 2024. The stock has been flat this month but had gained 8.5% in May, 9.3% in February and 18% in January.The stock has given positive annual returns every year since the end of 2019. Even in 2023, when the Hindenburg saga broke, the stock recovered all of those losses and ended the year with gains of 25%.Out of the 21 analysts that have coverage on Adani Ports, 19 of them have a "buy" recommendation, while two of them have a "hold" rating. Analysts expect the stock to reach levels of ₹1,782 in the next 12 months.Shares of Adani Ports had ended 0.4% higher on Friday at ₹1,745.95.
