Adani Enterprises hits new 52-week high on report it may replace Wipro on BSE Sensex

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Adani Enterprises, the flagship company of Adani Group, surged 7.5% to reach a new 52-week high of ₹3,377.50 apiece in today's trading session. This notable upswing came in the wake of insights provided by IIFL Alternative Research, suggesting the prospective inclusion of Adani Enterprises in the Sensex, potentially displacing Wipro from its current position.IIFL Alternative Research indicated that the inclusion of Adani Enterprises in the Sensex could lead to inflows of nearly ₹1,000 crore from passive funds tracking the index.

Conversely, Wipro's exclusion is expected to result in outflows of approximately ₹500 crore, it said. The Bombay Stock Exchange (BSE) is likely to announce its semi-annual index reconfiguration tomorrow, with adjustments scheduled to take effect on June 21.

If Adani Enterprises is included, it will mark the first time a company from the Gautam Adani-led Adani Group being a part of the 30-share BSE index.Also Read: Adani eyes 3 global ports, prepares $3 billion cash chestAdditionally, IIFL Alternative Research mentioned potential changes to the BSE 100 index. Jio Financial Services, Adani Green Energy, REC, Adani Power, and Adani Energy Solutions could potentially replace Page Industries, SBI Cards and Payment Services, ICICI Prudential Life Insurance, Zee Entertainment Enterprises, and Jubilant FoodWorks.Meanwhile, the company's shares have rebounded sharply from their February 2023 low of ₹1,017.45 apiece, currently trading 228% higher than that level.The group's market capitalisation in the previous trading session touched ₹16.9 lakh crore after its listed companies gained ₹11,300 crore as investors expressed confidence in the company amid its denial of any wrongdoing in the supply of coal to a