There is a big news about the shares of Zomato and Jio Financial. Both these shares may join the Nifty-50 index in March. This estimate has been expressed by well-known brokerage firm JM Financial in a recent report. Brokerage said that food delivery company Jomato and Financial Services Jio Financial Services Limited (JFS) may be involved in the rebelling of the Nifty 50 index in March.
Brokerage said that on the other hand, the stock of FMCG sector veteran Britannia Industries and government oil marketing company Bharat Petroleum Corporation Limited (BPCL) can be excluded from the index. Both these shares instead include shares of Jomato and Jio Financial.
Let us know that JM Financial had earlier predicted Eicher Motors’s share of shares to be out of the Nifty Index instead of Britannia.
Possible changes in other indexes of Nifty 50 and NSE are expected to be officially announced by the end of February 2025 and these changes will be applicable from 31 March 2025. Let us know that the National Stock Exchange changes its index 2 times every year. The free-flot market cap of these changes is made the basis. The average free-flot market cap of companies from August 1 to January 31 will be seen for ribbalancing to be held in March.
It is necessary to include any stock in the Nifty 50 index, already part of the Future and Options (F&O) segment. The NSE added 45 new stocks to the F&O segment in November 2024, including Zomato and Geo Financial Services.
JM Financial said in its report that if Jomato’s share is included in the Nifty 50, it can invest about $ 702 million (about ₹ 6,128 crore) from the passive mutual funds. On the other hand, the stock of Geo Financial Services is estimated to have an investment of about $ 404 million (about ₹ 3,526 crore). In this way, both shares can have a passive inflow of $ 1.11 billion (about ₹ 9,654 crore) in total.
At the same time, due to the removal of the second BPCL and Britannia Industries from the Nifty Index, the passive investment of Rs 2,097 crore and Rs 2,273 crore can be out of them respectively.
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