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The changes in the New NIFTY 50 have come into effect from today i.e, September 30th, 2022. Adani enterprises is set to replace the former smallest constituent of the index- Shree cement. 

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According to a report published by Edelweiss Securities Limited, Adani enterprises’ inclusion in the index will weigh 1.29% of the total index. The former constituent Shree cement had a weightage of 0.38%. 

While Adani enterprises might see an inflow, Shree cement will see an outflow of funds as the passive funds which construct its portfolio by tracking a market index are likely to remove the stocks. 

As per the report from Edelweiss Securities Limited, Adani enterprises is set to attract inflows of Rs 33.6 crores, and Shree Cement Limited is likely to see an outflow of Rs 9.80 crores. 

The shares of Adani Enterprises Limited were trading marginally higher in green till the afternoon on Friday at Rs 3,500 levels. In a year, the stock has delivered a multibagger return of 138 per cent. 

Meanwhile, the shares of Shree Cement Limited were trading marginally lower in red at Rs 21,080 levels on Friday. In the past year, the stock has shed approximately 27 per cent. 

The other constituents of the index might also see a reshuffle. As per the note from the brokerage, Reliance Industries’ weight is likely to decline by 0.11% causing an outflow of Rs 2.70 crores. Tata Consultancy Services and Infosys are also likely to see a reduction of 0.08% and 0.06% which might cause an outflow of Rs 2.2 crores and Rs 1.7 Crores, respectively. 

Two other Adani group stocks have made it to the Nifty indices family. Adani Total Gas has been included in Nifty Next50, and Nifty 100 and moved out from Nifty Midcap 150 and Nifty Midcap 100 indices. Next, Adani Wilmar will be included in the indexes Nifty 500, Nifty Midcap 150, Nifty Midcap 100, and Nifty 200. 

Written by Anoushka Roy

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