Nifty50 rejig: Zomato and Jio Financial to replace Britannia and BPCL

The inclusion of Zomato would lead to passive inflows of $702 million, while the inclusion of Jio Financial Services could bring $404 million in flows.

Food delivery giant Zomato and financial services player Jio Financial Services have entered into the Nifty50 index as part of the semi-annual reshuffle. Oil marketing major Bharat Petroleum Corporation and FMCG player Britannia Industries have been excluded.

The changes will come into effect from March 28. These changes will also be applicable to Nifty50 Equal Weight index.

According to domestic brokerage JM Financial, the inclusion of Zomato would lead to passive inflows of $702 million, while the inclusion of Jio Financial Services could bring $404 million in flows. On the other hand, the exclusion of BPCL and Britannia Industries might lead to outflows of $240 million and $260 million, respectively.

For the March rebalancing, the index provider assumes an average free float market cap that prevailed between the period August 1 to January 31.

It is mandatory for a stock to a part of the F&O segment to be included in the Nifty 50 index.

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