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On Friday BSE’s wholly-owned subsidiary Asia Index Private Ltd announced reconstitution of several indices which also included BSE 100, BSE Sensex 50 and BSE Sensex Next 50.
Zomato’s entry in the 30-stock index comes on the back of a stellar rally seen in its stock for the past one year with the counter delivering 130% returns in the said period. This is an outperformance over Sensex whose 12-month returns stand at 20%. On the other hand, JSW Steel’s shares have yielded 27% in the same period.
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.
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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, and HAL.Food delivery platform Zomato reported 389% growth in its consolidated net profit at Rs 176 crore in the July-September quarter, compared with Rs 36 crore a year ago.
Zomato’s revenue from operations rose 69% YoY to Rs 4,799 crore in Q2, up from Rs 2,848 crore a year ago. It reported revenue of Rs 4,206 in the previous quarter.
The market capitalization of the Zomato stock is Rs 2.3 lakh crore. On November 22, the food delivery firm’s shares closed 0.72% lower at Rs 264.89 apiece.
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