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Business Maverick: Billionaire Adani’s Flagship Enters Key India Index in New Boost

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Adani Enterprises Ltd., the flagship company of Asia’s richest man, Gautam Adani, has become the second unit of the ports-to-power conglomerate to be included in one of India’s key equity gauges as the group expands.

The firm will join the NSE Nifty 50 Index, the most tracked stocks gauge in the country, replacing Shree Cement Ltd., according to a

The inclusion of Adani Enterprises on the Nifty 50 could result in a net inflow of around $213 million for the stocks counter, while Shree Cement will see an outflow of $87 million, according to Edelweiss Securities Ltd. analyst Abhilash Pagaria.

 

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