Zomato & Jio Fin to Join Nifty 50, Replacing BPCL and Britannia
In a landmark change in accordance with changing market trends, the National Stock Exchange (NSE), declared that Zomato and Jio Financial Services Ltd (JFSL) will be included in the Nifty 50 index in its next semi-annual reshuffle, effective March 28, 2025. This is a milestone moment as companies born of the digital age enter India's most followed domestic benchmark index, underlining the increasing role of technology-led businesses in India's financial system.
The reshuffle will remove Bharat Petroleum Corporation Ltd. (BPCL) and Britannia Industries Ltd. from the index. The move is part of NSE's routine index review process, which helps maintain the index in sync with prevailing market trends and make it relevant to investors.
Zomato and Jio Financial Services were included on the basis of their robust market performance. Both firms had an average free-float market capitalization of at least 1.5 times greater than the smallest firms being dropped over the last six months. Zomato's market cap is Rs 1,69,837 crore, while that of Jio Financial is Rs 1,04,387 crore. BPCL and Britannia, on the other hand, have market caps of Rs 60,928 crore and Rs 64,151 crore, respectively.
Zomato's addition comes after its listing on the BSE Sensex in the previous year, making it one of the important players in India's stock exchange. Jio Financial, which is a Reliance Industries spin-off, has quickly expanded its business, joining the ranks of the nation's leading financial services companies.
The adjustments mirror the index's evolution into a changing economy, where growth is being powered by technology and innovation. To investors, the reshuffle also marks the rising significance of next-generation companies and their ability to influence India's future market course.
The new Nifty 50 index structure will be implemented on March 28, 2025.
