Zomato shares have given a handsome return of 46% in the last six months. But its growth story is not over yet because there is still a bumper rise in the shares of Zomato. We will tell you what is the reason for this. Food delivery company Zomato is going to get big success in the next three days. Which will definitely affect its shares also. Zomato shares will be included in BSE’s most important index Sensex from December 23. After entry in Sensex, huge investment of about Rs 4,365 crore can come in Zomato shares.
Shares of Zomato closed at Rs 274.50 today on December 24 with a rise of 0.20 percent.
Brokerage firm Nuvama Institutional Equities has made this estimate in its latest report. Zomato shares will replace JSW Steel in Sensex. The adjustment date for this change is December 20. Zomato will be the first New Age Tech company to be included in the Sensex.
Nuvama said that due to exit from Sensex, investment of Rs 2,144 crore can be withdrawn from JSW Steel shares.
With this, the weightage of shares of Mahindra & Mahindra, ITC, Infosys and Sun Pharma may decrease in Sensex. Due to this, a total investment of about Rs 902 crore may go out from these four. In this, funds worth Rs 655 crore are expected to go out from Mahindra & Mahindra shares, Rs 76 crore from ITC shares, Rs 136 crore from Infosys shares and Rs 34 crore from Sun Pharma shares.
BSE has also announced changes in its other indices like BSE Sensex 50, BSE Sensex Next 50 and BSE 100.
BSE has removed Ashok Leyland, PI Industries, IDFC First Bank, IRCTC, UPL and APL Apollo Tubes from the BSE-100 index and replaced them with Jio Financial Services, Suzlon Energy, Adani Green Energy, Adani Power, Samvardhana Motherson and PB Fintech. Has been included in the index. This change will be effective from December 23.
BSE also said that HDFC Life, BPCL and LTIMindtree will be removed from the BSE Sensex 50 index from December 23 and will be replaced by Zomato, Jio Financial Services and HAL.
It has been decided to remove Zomato, HAL Ashok Leyland, PI Industries, IDFC First Bank, IRCTC, UPL and APL Apollo Tubes from the BSE Sensex Next 50 index. In their place, Adani Green Energy, HDFC Life, BPCL, LTIMindtree, Samvardhan Motherson, PB Fintech, Suzlon Energy and Adani Power will be included in their place.
Zomato is being included in the BSE Sensex at a time when its shares have risen by more than 135 percent so far this year. In comparison, the Sensex index has increased by 11.4 percent during this period. Zomato’s market cap has now surpassed even Tata Motors.