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NSE to Include Adani Wilmar, Adani Power in Few Indices from March 31

Adani Wilmar, Adani Power will be included in some indices.

Leading stock exchange NSE has adjusted the constituents of its main indices, Adani Wilmar and Adani Power. Both companies of Adani Group will be included in some Nifty indices from March 31, 2023.

Adani Wilmar will be part of the Nifty Next 50 and Nifty 100 indices. At the same time, Adani Power will be included in the Nifty 500, Nifty 200, Nifty Midcap 100, Nifty Midcap 150, Nifty LargeMidcap 250 and Nifty Midsmallcap 400 indices.

All changes to the index will take effect from March 31, the exchange said in a statement late Friday night.

NSE Indices Ltd’s Index Maintenance Sub-Committee has decided to replace stocks in various indices as part of its regular review.

However, the National Stock Exchange (NSE) has not changed its Nifty 50 index.

In the Nifty Next 50 index, apart from Adani Wilmar, other companies included are ABB India, Canara Bank, Page Industries and Varun Beverages.

On the other hand, Bandhan Bank, Biocon, Gland Pharma, MphasiS and One 97 Communications will be dropped from the Nifty Next 50 index.

Earlier this week, index provider MSCI Inc delayed implementing a reduction in the weighting of two Adani group companies, Adani Total Gas and Adani Transmission, in its index, citing the potential impact of the price cap mechanism.

A decision on the weighting change, which was due to take effect this month, has now been pushed back to May.

The global index provider cited potential replicability issues as the main reason behind the delay due to the price capping mechanism of two Adani group companies.

Shares of Adani Group were hit hard after US-based short-seller Hindenburg Research filed a barrage of allegations against the Gautam Adani-led conglomerate, including fraudulent trading and price manipulation.

Adani Group denies the allegations are lies, saying it complies with all legal and disclosure requirements.

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