Adani Enterprises' inclusion in Nifty50 index divides D-Street

Index inclusion comes after the 'best has played out for the stock' is an overarching concern

Adani Enterprises’ (AEL’s) inclusion in the Nifty50 Index has left the Street divided. Some fear a Nifty inclusion will force exchange-traded funds (ETFs) and index funds — on which rides a lot of pension money — to buy the stock that trades at a price-to-earnings multiple of more than 400x. Also, they worry the index inclusion comes after the best has played out for the stock.

Those in favour of the decision feel the Nifty inclusion will give them a chance to own the stock that has been on a tear in recent years. Many took to social media