Adani Enterprises Potentially Set to Join Sensex in Upcoming Semi-Annual Review, Suggests IIFL Alternative Research
Adani Enterprises Ltd (AEL), the leading entity within the Adani conglomerate, is potentially poised to join the esteemed ranks of the Sensex, as suggested by IIFL Alternative Research in its recent assessment.
The anticipation of this development sparked a notable surge not only in AEL’s stock but also across other companies within the Adani group. AEL, known for nurturing various businesses, witnessed a remarkable 8.01 percent increase in its share value, reaching close to ₹3,391.20 on the Bombay Stock Exchange (BSE). In intra-day trading, the stock soared even higher, peaking at a 52-week high of ₹3,409.05, reflecting an 8.60 percent surge.
These gains translated into a substantial rise in the company’s market capitalization, which climbed to ₹3.86 lakh crore on the BSE. The report from IIFL Alternative Research hinted at the potential inclusion of Adani Enterprises in the Sensex, possibly alongside the exclusion of Wipro.
The positive outlook resonated across other Adani group entities, with notable upticks observed in various sectors. NDTV shares surged by 7.62 percent, while ACC and Ambuja Cements witnessed increases of 2.86 percent and 2.09 percent, respectively. Adani Ports recorded a 4.72 percent rise, followed by Adani Power with a gain of 2.79 percent and Adani Energy Solutions with 1.17 percent.
Furthermore, Adani Total Gas saw a 2.37 percent increase, Adani Green Energy rose by 1.25 percent, and Adani Wilmar observed a gain of 1.85 percent. Collectively, the market valuation of all ten listed Adani group firms reached ₹17.23 lakh crore, reflecting a robust performance.
In a separate development, Thierry Delaporte, who recently stepped down as the CEO of Wipro in April, emerged as the highest earner in the IT sector for the fiscal year 2023-24. According to disclosures from Wipro, Delaporte’s compensation amounted to $20.11 million (approximately ₹167 crore) during this period.
Delaporte’s resignation on April 6 paved the way for Srinivas Pallia to assume the role of CEO at Wipro. The breakdown of Delaporte’s compensation revealed significant components, including salary, allowances, commission, variable pay, and long-term compensation.
Additionally, Wipro disclosed severance-related costs of ₹92 crore attributed to the outgoing CEO for the fiscal year. In comparison, Infosys CEO Salil Parekh’s remuneration for the same period stood at ₹56 crore.
