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Brokerage firm Nuvama Alternative & Quantitative Research said that in case Zomato and Jio Financial are included in the Nifty 50 index, it would result in both these stocks getting inflows worth up to $602 million and $308 million, respectively.
By Meghna Sen March 26, 2025, 9:54:33 AM IST (Published)
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Food delivery major Zomato Ltd. and Reliance group-owned Jio Financial Services Ltd. will be included in the Nifty 50 index, as part of the the semi-annual rejig that is set to take place on March 27, 2025. These two stocks will replace Bharat Petroleum Corporation Ltd. and Britannia Industries Ltd.
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Brokerage firm Nuvama Alternative & Quantitative Research wrote in a note that in case Zomato and Jio Financial are included in the Nifty 50 index, it would result in both these stocks getting inflows worth up to $602 million and $308 million, respectively.
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On the flip side, the exclusion of stocks like Britannia Industries and BPCL will lead to outflows of $238 million and $225 million, respectively.
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Alongside major inflows will be in Grasim Industries ($9 million), Adani Enterprises ($9 million), UltraTech Cement ($6 million), and Cipla ($5 million). Stocks like Bajaj Finance (-$79 million), HDFC Bank (-$51 million), Reliance Industries (-$41 million), ICICI Bank (-$35 million), and Infosys (-$24 million) will see their weights in the Nifty 50 index go down.
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The Nifty 50's forward PE (price-to-earnings) for FY26E with the current constituents stands at 19.9 times, while the earnings per share is 1,186. The PE ratio will surge to 20.2 times after the rejig, while the EPS will slip to 1,171, as per Nuvama.
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Zomato and Jio Financial Services will exit the Nifty Junior index to graduate to the frontline index, while BHEL, NHPC, Union Bank, IRCTC and Adani Total Gas will also make an exit.
Note To Readers
Disclaimer: Reliance Industries Ltd, which owns Jio, is the sole beneficiary of Independent Media Trust that controls Network18, the parent company of CNBCTV18.com.
