Food delivery major and restaurant aggregator Zomato Ltd. will see inflows to the tune of $513 million, as the firm enters the 30-share BSE Sensex pack on December 23, according to domestic brokerage Nuvama Institutional Equities.

Zomato emerged as the first new-age tech stock to gain inclusion into the frontline index as it is set to replace JSW Steel. The exclusion of the JSW Group player will lead to outflows of $252 million, according to the broking firm.

Futher, Mahindra & Mahindra (- $77 million), ITC (- $9 million), Infosys (- $16 million) and Sun Pharma (- $4 million) are likely to see their weightage in the index fall, leading to a combined outflow of $106 million.

BSE also announced reconstitution of its other indices like BSE SENSEX 50, BSE SENSEX NEXT 50, and BSE 100.

BSE dropped Ashok Leyland, PI Industries, IDFC First Bank, IRCTC, UPL, and APL Apollo Tubes from BSE 100 and added Jio Financial Services, Suzlon Energy, Adani Green Energy, Adani Power, Samvardhana Motherson, and PB Fintech to the index, effective December 23.

BSE also said that HDFC Life, BPCL and LTI Mindtree will be dropped from its BSE SENSEX 50 index from December 23 and replace them with Zomato, Jio Financial Services, and HAL.

BSE also said that Zomato, HAL, Ashok Leyland, PI Industries, IDFC First Bank, IRCTC, UPL, and APL Apollo Tubes will be dropped from its BSE SENSEX NEXT 50 index from December 23 and replace them with Adani Green Energy, HDFC Life, BPCL, LTIMindtree, Samvardhana Motherson, PB Fintech, Suzlon Energy, and Adani Power.

The inclusion came at a time when shares of Zomato have recorded a staggering rally, surging over 135 percent in the year so far. During this time, JSW Steel has risen around 9.3 percent, while the Sensex index has risen 11.4 percent.

Published on December 18, 2024 / 10:00 IST

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