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AS THE NSE CHANGES ITS INDICES, FOUR ADANI GROUP STOCKS ARE TAKEN OUT OF THE
NIFTY ALPHA 50 INDEX.




The National Stock Exchange of India (NSE) changed its indices and took the
shares of four companies in the Adani group out of the Nifty Alpha 50 index.
Adani Enterprises, Adani Green Energy, Adani Transmission, and Adani Total Gas,
along with ten other stocks, have been taken out of the Nifty Alpha 50 index.
Every three months, the rejig and replacement is done after a review of the
strategy indices. The Adani stocks will be taken off the NSE index on March 31.

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The Nifty Alpha 50 index is made up of 50 stocks. It chooses stocks with high
alphas by looking at how liquid they are and how much money they are worth on
the market. The NSE says that this will make them investable and easy to copy.
During this change, 14 stocks have been taken out of the Nifty Alpha 50 index.
The other companies are Aditya Birla Fashion and Retail, Angel One, Elgi
Equipments, Fine Organic Industries, Gujarat Narmada Valley Fertilizers and
Chemicals, KEI Industries, Page Industries, SRF, Suzlon Energy, and Tata Elxsi.

The following companies will be added to the Nifty Alpha 50 index in their
place: Aditya Birla Capital, Apollo Tyres, Bank of India, Bharat Heavy
Electricals, Britannia Industries, IDFC First Bank, Jindal Steel & Power, L&T
Finance Holdings, Mahindra & Mahindra Financial Services, MRF, Power Finance
Corporation, Punjab National Bank, Siemens, and Zydus Lifesciences.

Along with the Nifty Alpha 50 index, the Nifty 100 Alpha 30 index will not
include the four Adani group shares, as well as Adani Ports and SEZ. The Nifty
200 Alpha 30 index will also not include Adani Enterprises. The Nifty100 Alpha
30 index tries to measure how well blue-chip shares from the Nifty 100 are
doing. The weights of the shares are based on their alpha score and how much
free float they have. Ambuja Cements and ACC, two cement stocks owned by Adani,
have also been taken out of the Nifty Low Volatility 50 index. On the other
hand, Nifty High Beta 50 will include Adani Total Gas and Adani Transmission.

Since January 24, when a report from US-based short seller Hindenburg accused
the conglomerate of fraud and stock manipulation, Adani group stocks have been
under pressure. But in the last few sessions, the shares of the Adani group have
risen sharply. From February 28 to March 6, Adani Enterprises has gone up more
than 45%. On Monday, the company’s stock went up 5% as the markets as a whole
were going up.

Some of the other things the group talks about also make them feel good. Shares
of Adani Power, Adani Transmission, Adani Energy, Adani Total Gas, and Adani
Wilmar all went up by 5%, and at the end of the day, they were all at the top of
their respective price ranges. The rise in Adani group stocks is due to a Rs
15,466 crore investment by the global equity fund GQG in four group entities
through block deals last week. GQG said that the group has “fantastic assets,”
which caused the investment.


Tagged Index 50


AJITH KUMAR




POST NAVIGATION

⟵ Adani Ports, Maruti, HDFC, PGCL, Kansai Nerolac, and MGL are stocks to keep an
eye on.
Shares of Gland Pharma are 80% lower than their all-time high: Buy on the
downturn? ⟶


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