Adani Enterprises enters Nifty 50
时间:2024-06-26 03:16:51 阅读(143)
Adani Enterprises has replaced Shree Cement in the Nifty 50 index. The change will come into effect from September 30, and is part of the periodic review carried out by the National Stock Exchange of India (NSE). This is the second Adani stock to be included in the Nifty after Adani Ports and Special Economic Zone.
The index maintenance sub-committee – equity of NSE Indices has decided to make the changes as a part of its periodic review, a release said on Thursday.
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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 analyst Abhilash Pagaria.
Shares of Adani Enterprises have risen 89% this year, while all the listed companies have rallied, led by a 310% surge in Adani Power. The group has grown rapidly, announcing plans to foray into multiple new businesses, including media, healthcare and digital services.
The Adani Group has a strong track record of churning out strong and stable companies through its Adani Enterprises arm, and boasts a portfolio of stable infrastructure assets tied to the healthy functioning of the Indian economy, according to a recent report by CreditSights.
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The launched works involve rehabilitating the Galgamuwa Railway Station and upgrading the railway line from Maho to Anuradhapura, including additional tasks. Another project is the second phase of track rehabilitation from Maho to Omanthai (128 kms), funded by a $318 million Indian Line of Credit.
Transport Minister Gunawardena praised the efforts of Indian company IRCON in Sri Lanka and called for more cooperation in the railway sector. State Minister Shantha Bandara and officials from the Sri Lankan Ministry of Transport attended the event.
Railways is a priority for Indian assistance in Sri Lanka, with over $1 billion invested under five Indian Lines of Credit. IRCON has been involved in Sri Lanks since 2009. It has contributed to the modernisation of Sri Lanka Railways by reconstructing the entire railway line network in the Northern Province (253 Km) and upgradation of the Southern line (115 km), as well as improving safety through advanced signalling and telecommunication systems.
Despite Sri Lanka’s debt standstill in April 2022, India’s support under various Lines of Credit has continued.
(With PTI inputs)
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