Another Adani Group company included in Nifty50, likely to buy Rs 1750 crore, know what changed for Adani Enterprises from today – Adani Enterprises share price flat amid joins Adani Ports in Nifty50 expect ETF buying worth Rupees 1750 crore

Adani Enterprises, the flagship of Adani Group, is continuously expanding its business and entering new areas. With this, another achievement has been achieved for the Adani Group. From 30 September i.e. today, it has joined the domestic equity benchmark index Nifty 50 instead of Shree Cements. This is the second company of the Adani Group to be included in the Nifty 50.

Earlier, Adani Ports and SEZ has also joined it. However, its effect is not visible on its shares today and it is showing a slight decline. Its shares are being traded on BSE at a price of Rs 3453 (Adani Enterprises Share Price).

What will change for Adani Enterprises?

According to domestic brokerage house ICICI Securities, buying of shares of Adani Enterprises will increase after joining Nifty 50 and shares worth Rs 1760 crore will be bought only by fund managers of Exchange Traded Fund (ETF). Fund managers will buy Adani Enterprises for an ETF that tracks Nifty.

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attractive for investment

Adani Group Chairman and Founder Gautam Adani recently announced an investment of $10 trillion over the next ten years with a focus on the green energy space. More of this money will be invested through Adani New Industries Limited, a subsidiary of Adani Enterprises. The subsidiary works on renewable energy, green hydrogen and downstream products such as ammonia, urea and methanol. Apart from this, Adani Enterprises is also in the business related to Airports, Data Centers, Building Roads and Defense Equipment. In such a situation, according to analysts, Adani Enterprises is attractive for investment in the short to medium term.

Adani Enterprises is the 11th largest listed company

Shares of Adani Enterprises have grown tremendously in the last three years and this year, it has gained about 102 per cent. In three years, it has jumped about 2400 per cent, while the Nifty has gained only 46 per cent during this period. On the basis of this boom, Adani Enterprises has become the 11th largest listed company in the country by market cap. Its market cap is Rs 4.1 lakh crore.

Now only one cement company in Nifty

Adani Enterprises has replaced Shree Cement in Nifty 50. Shree Cement had joined this group on 27th March 2020 and since then it has gained 21 per cent. After its exit, now there is only one cement company UltraTech Cement in Nifty 50.

Disclaimer: The advice or views given on moneycontrol.com are the personal views of the expert/brokerage firm. Website or Management is not responsible for this. Moneycontrol advises users to always consult a certified expert before taking any investment decision.

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