BSE Sensex Rejig: Food delivery giant Zomato will replace JSW Steel in the BSE Sensex index from December 23, 2024, as part of a periodic rebalancing of constituents. This move made Zomato the first new-age tech stock to enter the 30-share frontline index. Shares of the JSW Group company will exit as part of the planned rejig to make way for Zomato next month.
The index inclusion comes when shares of the Deepinder Goyal-led company have logged an unfazed rally in the last year. Zomato's stock price has rallied 42 per cent in the last six months and over 112 per cent year-to-date (YTD).
Also Read: Swiggy vs Zomato: Which food delivery stock should you buy for long-term? Here’s a 5-point analysis
The stock has provided multi-bagger returns of 130 per cent in the last 12 months, outperforming benchmark Sensex, which has given 20 per cent returns in the period under review. As of November 22, the restaurant aggregator's market capitalisation stood at 2.33 lakh crore.
On the other hand, JSW Steel has given 27 per cent returns in one year. On Friday, shares of Zomato settled 0.97 per cent lower at ₹264.15 apiece on the BSE. In the latest July-September quarter, Zomato’s consolidated revenue from operations rose by 69 per cent to ₹4,799 crore. Net profit also jumped to ₹176 crore, a five-fold jump as against a year ago.
On Friday, BSE's wholly-owned subsidiary Asia Index Private also announced the reconstitution of several indices, including BSE 100, BSE Sensex 50, and BSE Sensex Next 50. Companies are added and excluded from the index based on their average six-month float-adjusted market capitalisation. The index serves as both a benchmark and an investable index, comprising 30 large, well-established companies across key sectors.
As part of the reconstitution, here are the rejigs of the other indices:
Six stocks will debut on the BSE 100 index, including Jio Financial Services, Suzlon Energy, Adani Green Energy, Adani Power, Samvardhana Motherson International, and PB Fintech. According to BSE, these will replace Ashok Leyland, PI Industries, IDFC First Bank, IRCTC, UPL, and APL Apollo Tubes.
As part of the BSE Sensex 50 reshuffle, key additions to the index include Zomato, Jio Financial Services, and Hindustan Aeronautics Ltd (HAL). On the other hand, HDFC Life Insurance Company, Bharat Petroleum Corporation Ltd (BPCL), and LTI Mindtree are set to exit the index.
Adani Green Energy, HDFC Life Insurance, BPCL, LTI Mindtree, Samvardhana Motherson International, PB Fintech, Suzlon Energy and Adani Power will be added to BSE Sensex Next 50. These stocks will replace Zomato, HAL, Ashok Leyland, P.I. Industries, IDFC First Bank, IRCTC, UPL and APL Apollo Tubes will no longer be a part of BSE Sensex Next 50.
BSE added that there is no change in the BSE BANKEX index. Meanwhile, BSE announced in a separate circular the introduction of futures and options (F&O) contracts for 43 stocks, set to be available for trading from December 13, 2024. The stocks making their entry into BSE's F&O segment include Adani Energy Solutions, Adani Green Energy, Adani Total Gas, Paytm’s One 97 Communications, Yes Bank, Avenue Supermarts (DMart), Life Insurance Corporation of India (LIC), Zomato, and Jio Financial Services.
