Adani Enterprises enters Nifty 50. Will index inclusion fuel the stock price?
Getty Images
Gautam Adani, Chairman of the Adani Group during a press conference at a press conference in Mumbai
Synopsis
Adani Enterprises’ presence will push the Nifty 50 Index funds and ETFs to buy the stock by default. While many investors and analysts feel the stock will be on an upswing due to the latest move, there are those who believe that the buying spree will have a limited impact on the price.
Adani Enterprises is entering the Nifty 50 Index, but analysts and fund managers are not elated. That’s because the majority of them do not track the stock. Also, many mutual fund houses have stayed away from investing in the company. Will things change now? The National Stock Exchange on Thursday announced that Adani Enterprises, led by India’s richest and the world’s third-richest person Gautam Adani, will join the benchmark index from
Refer & Earn
Get Unlimited Access to The Economic Times
