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BusinessAdani Ports joins Sensex index, replacing IT major Wipro

Adani Ports joins Sensex index, replacing IT major Wipro


In a major development, one of 's largest port operators Adani Ports and Special Economic Zone (APSEZ) has been selected to be included in the 30-share BSE Sensex stock market index, replacing IT services giant Wipro. As per an announcement by the index compiler Asia Index, APSEZ will replace Wipro in the prestigious blue-chip index from June 24th.

The inclusion of APSEZ into the Sensex signals growing recognition of the company's strong performance and prominence in the infrastructure sector. APSEZ has established itself as a key player in the domestic ports industry, handling significant cargo volumes across its many ports. This inclusion comes over a year after concerns were raised over some Adani group companies, though their businesses and share prices have since strengthened.

Index updates are conducted biannually by Asia Index to ensure the Sensex constituents properly represent leading companies. APSEZ met eligibility criteria including median 3-month free float market capitalization and liquidity levels. Wipro's removal may reflect broader sectoral shifts in the and stock market.

Overall, the changes aim to better reflect the current market landscape by adding strong performers while removing those that have relatively weakened. This latest revision will provide investors with an updated basket of benchmarks that closely track key sectors and size segments. The move underlines APSEZ's robust growth journey and prominent position in an important infrastructure industry.

The Northlines is an independent source on the Web for news, facts and figures relating to Jammu, Kashmir and Ladakh and its neighbourhood.

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