Zomato and Jio Financial Join Nifty 50 Amid Major NSE Index Reshuffle
Zomato and Jio Financial Services are set to join the benchmark indices of the National Stock Exchange (NSE). As part of the upcoming semi-annual rebalancing, both companies will be included in the Nifty 50 index, replacing Bharat Petroleum Corporation Limited (BPCL) and Britannia Industries.
These changes will take effect from March 28, 2025. The selection is based on the average free-float market capitalization recorded between August 1 and January 31. According to an NSE statement, Zomato’s average free-float market cap stands at ₹1,69,837 crore, while Jio Financial Services has a market cap of ₹1,04,387 crore. In comparison, BPCL and Britannia Industries have market caps of ₹60,928 crore and ₹64,151 crore, respectively.
For a stock to be included in the Nifty 50 index, it must be listed in the Futures and Options (F&O) segment.
Analysts at JM Financial estimate that Zomato’s inclusion in the Nifty 50 index could bring in passive inflows of approximately $702 million, while Jio Financial Services might attract around $404 million. On the other hand, BPCL’s exclusion is expected to lead to an outflow of $240 million, and Britannia Industries may see an outflow of $260 million.
Changes in the Nifty 100 Index
Apart from the Nifty 50, several adjustments are also being made to the Nifty 100 index. Bajaj Housing Finance, CG Power and Industrial Solutions, and Hyundai Motor India will be newly added, while Adani Total Gas, BHEL, IRCTC, NHPC, and Union Bank of India will be removed from the index.
Updates in the Nifty 200 Index
Significant changes are also taking place in the Nifty 200 index.
New inclusions include Glenmark Pharma, Motilal Oswal Financial Services, National Aluminium Company (NALCO), and NTPC Green Energy. Additionally, Ola Electric, Premier Energies, Vishal Mega Mart, and Varee Energies will also join the index.
Meanwhile, stocks that will be removed from the Nifty 200 index include Balkrishna Industries, Delhivery, Fertilizers and Chemicals Travancore, IDBI Bank, Indian Overseas Bank, JSW Infra, MRPL, NLC India, Poonawalla Fincorp, Sundaram Finance, and Tata Chemicals.
