Zomato To Make Entry In BSE Sensex, Replace JSW Steel

Asia Index Private Ltd, the wholly-owned subsidiary of BSE announced the reconstitution on Friday of several indices such as BSE Sensex Next 50, BSE 100, and BSE Sensex 50

The development becomes effective from December 23, 2024.

Source : PTI

Food delivery firm, Zomato, is set to make its entry in the key equity benchmark index, BSE Sensex. The company will replace JSW Steel to secure a spot in the Sensex as part of the index reconstitution.

The development becomes effective from December 23, 2024. Asia Index Private Ltd, the wholly-owned subsidiary of BSE announced the reconstitution on Friday of several indices such as BSE Sensex Next 50, BSE 100, and BSE Sensex 50, reported The Economic Times.

The food delivery and quick commerce firm will enter the 30-stock benchmark index after delivering a solid rally over the last year. The company’s shares surged ahead in the last one year and yielded 130 per cent returns for the investors in the concerned period.

Meanwhile, Sensex itself couldn’t manage to deliver the same performance. The index’s yield over 12-months stood at 20 per cent.

On the other hand, JSW Steel delivered returns of 27 per cent in the 12-month period.

Meanwhile, six stocks were added to the BSE 100 index. These included Suzlon Energy, Adani Green Energy, Jio Financial Services, Samvardhana Motherson International, PB Fintech (Policybazaar), and Adani Power. These stocks will be added to the list after replacing P I Industries, IDFC First Bank, Ashok Leyland, APL Apollo Tubes, UPL, and Indian Railway Catering and Tourism Corporation (IRCTC).

As part of reconstitution in the BSE Sensex 50 index, Zomato, PSU Hindustan Aeronautics (HAL), and Jio Financial Services will be added to the index. The stocks making their exit from the index include Bharat Petroleum Corporation (BPCL), LTIMindtree, and HDFC Life Insurance Company.

In the last trading session on Friday, both Sensex and Nifty made a strong recovery and climbed more than 2 per cent each. The BSE Sensex surged 1,961 points and closed the session at 79,117, while the NSE Nifty50 rallied more than 550 points and ended trading at 23,907.