Online food delivery platform Zomato is set to replace JSW Steel in the BSE Sensex, India’s flagship equity index, effective December 23. This change comes as part of the latest reconstitution announced by Asia Index Private Ltd, a subsidiary of the Bombay Stock Exchange (BSE).
Zomato’s Stock Market Surge Outshines JSW Steel
Zomato’s inclusion in the Sensex reflects its remarkable stock market performance, with its shares gaining over 112% this year. In contrast, JSW Steel has delivered a modest return of 11% over the same period, prompting its removal from the index.
Other Changes in BSE Sensex 50
The BSE Sensex 50 index will also welcome three new entrants Zomato, Jio Financial Services Ltd., and Hindustan Aeronautics Ltd. (HAL). These companies will replace HDFC Life Insurance Company, Bharat Petroleum Corporation Ltd. (BPCL), and LTIMindtree.
Reshuffle in BSE 100 Index
The BSE 100 index will also undergo changes. Jio Financial Services, Suzlon Energy, Adani Green Energy, Adani Power, Samvardhana Motherson International, and PB Fintech will join the index. Meanwhile, companies such as Ashok Leyland, PI Industries, IDFC First Bank, Indian Railway Catering and Tourism Corporation (IRCTC), UPL, and APL Apollo Tubes will be excluded.
This reshuffling reflects the evolving dynamics of India's stock market and highlights the growing prominence of new-age businesses like Zomato.
With inputs from agencies
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