Adani Enterprises, scarcely tracked by brokerages, set to enter Nifty 50

Coverage may improve as more funds start chasing the stock, say market experts

Adani Enterprises (AEL) is pegged to replace Kolkata-based Shree Cement in the Nifty 50 index, a gauge for the performance of India’s capital market. If it enters Nifty, the diversified conglomerate will be the least-tracked company in the index.

According to Bloomberg, only two brokerages have coverage on the stock at present. Currently, the least-tracked companies in the index are Bajaj Finserv and Grasim, at 10 brokerages each. Group firm Adani Ports & SEZ, already part of the index, is tracked by 25 brokerages.

AEL, which has a market cap of Rs 2.8 trillion, is also under-owned by domestic