New Delhi: Zomato and Jio Financial Services may soon join Nifty 50. At present, the shares of Zomato are included in Sensex 30. Nuvama Alternative & Quantitative Research believes that in the upcoming reshuffle in March 2025, Zomato and Jio Financial Services could be placed in the benchmark index Nifty 50.
In a report, the research firm said that it is confident that Zomato and JFSL would replace oil marketing firm BPCL and FMCG company Britannia in the index.
“This change could lead to huge investment in Zomato and Jio Financial Services, which is estimated at $631 million and $320 million respectively. “On the other hand, exit of BPCL and Britannia is likely to result in outflow of $201 million and $240 million respectively,” Nuvama said in its report.
Nuvama further mentioned that two-wheeler manufacturer Hero MotoCorp may retain its position in the 50-share index. Earlier, JM Financial had also predicted the inclusion of Zomato and Jio Financial Services in the benchmark index. The brokerage house expects an investment of $650 million in Zomato and $ 356 million in Jio Financial Services after the inclusion.
Zomato, Jio Financial Q3 Results 2024-25
In its October-December quarter of 2024-25 Results, Zomato posted a 57 per cent decline in consolidated net profit to Rs 59 crore as against Rs 138 crore in net profit during the third quarter of 2023-24.
Jio Financial Services reported its consolidated profit remained flat at Rs 295 crore in October-December quarter results for fiscal 2024-25. The assets under management (AUM) of JFSL went up to Rs 4,199 crore, while it was Rs 1,206 crore in the preceding September quarter of FY25.
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Zomato and Jio Financial Services may join Nifty 50 by March 31, 2025, a report of Nuvama Alternative & Quantitative Research stated. JFSL made its stock market debut on August 21, 2023. Zomato shares made their debut on July 23, 2021. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
