Zomato, Jio Financial Services May Enter Nifty 50 On F&O Inclusion: Report

JM Financial has said that Zomato and Jio Financial Services could soon join the benchmark Nifty 50.

The Nifty 50 is scheduled for the next rejig in March next year.

The announcement for the March 2025 rebalancing will be made in February.

It said that Zomato and Jio Financial Services could become the part of benchmark index based on the new F&O inclusions.

On the other hand, auto major Eicher Motors and oil marketing major BPCL could see an exit from the benchmark.

BPCL is a public sector oil and gas company under the administrative control of the Ministry of Petroleum and Natural Gas.

Headquartered in Mumbai, it is India’s second-largest government-owned downstream oil producer.

On the other hand, Eicher Motors is the flagship company of the Eicher Group and a leading player in the automobile industry.

It is the parent company of Royal Enfield.

It is mandatory for a stock to a part of the F&O segment to be included in the Nifty 50 index.

The inclusion of Zomato would lead to passive inflows of $607 million, while the inclusion of Jio Financial Services could bring $372 in flows.

On the other hand, the exclusion of BPCL and Eicher Motors might lead to outflows of $223 million and $239 million, respectively.

“For the March rebalancing, the index provider assumes an average free float market cap that prevailed between the period August 1 to January 31,” said the brokerage.

It expects these changes based on the average free float market cap that prevailed as of November 13.

The announcements regarding the index rejig are likely to occur in February 2025.

The Nifty 50 index is reshuffled every year, based on six-month data ending January 31 and July 31.

The benchmark index represents the average of 50 of the largest companies listed on the National Stock Exchange (NSE).

During last rejig which came into effect September 30, 2024, Bharat Electronics and Tata Group’s Trent Limited made it to the Nifty 50 index.

IT giant LTI Mindtree and pharma major Divi’s Laboratories were replaced by the two new entrants in the benchmark index.

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