Shares of Adani Enterprises hit all-time high today after National Stock Exchange of India (NSE) announced that the Adani Group firm would be included in Nifty 50 index, replacing Shree Cement, from September 30. On the other hand, shares of Shree Cement were trading in the red. Adani Enterprises stock hit a record high of Rs 3,289.55, rising 1.75 percent in early trade against the previous close of Rs 3,232.75 on BSE.
Earlier, Adani Enterprises stock opened higher at Rs 3,263 on BSE. Adani Enterprises shares have gained 107.64 per cent in one year and risen 90.76 per cent since the beginning of this year. Market cap of Adani Enterprises rose to Rs 3.71 lakh crore on BSE. Total 0.55 lakh shares of the firm changed hands amounting to a turnover of Rs 18.15 crore. Adani Enterprises stock hit a 52-week low of Rs 1,344.60 on October 28, 2021.
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Meanwhile, shares of Shree Cement were the top losers on Nifty, falling up to 2.66 per cent to Rs 21,011 against the previous close of Rs 21,586. Market cap of the firm fell to Rs 75,968 crore on NSE. On BSE, the Shree Cement stock fell up to 2.72 per cent to Rs 21,010 against the previous close of Rs 21,596.55. Market cap of the firm fell to Rs 75,922 crore. The stock has lost 30 per cent in a year and fallen 22 per cent in 2022. Total 871 shares of the firm changed hands amounting to a turnover of Rs 1.85 crore on BSE.
On Thursday, NSE announced the inclusion of Adani Enterprise in Nifty 50 from September end. This will be the second stock from the billionaire Gautam Adani-led Adani Group to be included in the index after Adani Ports & SEZ. NSE reviews the inclusion and exclusion of stocks semi-annually.
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Adani, currently world’s third richest person, owns seven listed companies – Adani Enterprises, Adani Green Energy, Adani Ports, Adani Power, Adani Total Gas, Adani Transmission and Adani Wilmar. NSE has also reshuffled Nifty Next 50, also referred as ‘Junior Nifty’. Adani Total Gas, Bharat Electronics, Hindustan Aeronautics, IRCTC, Mphasis, Samvardhana Motherson International and Shree Cements are the new entrants.