Zomato, Jio Financial Services may enter Nifty 50 on F&O inclusion; Eicher Motors, BPCL could exit: JM Financial

Other counters that will be included in the F&O segment are BSE, Paytm, Avenue Supermarts, Adani Green Energy, and Adani Total Gas among others.

Zomato and Jio Financial Services shares traded with sharp gains on November 14, a day after the National Stock Exchange (NSE) announced that 45 stocks will be included in the futures and options (F&O) segment.

According to domestic brokerage JM Financial, following their inclusion into the F&O segment, Zomato and Jio Financial Services could included into the frontline Nifty 50 index during the March 2025 rebalancing.

On the other hand, auto major Eicher Motors and oil marketing major BPCL could see an exit from the benchmark.

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

At 11.10 am, shares of Zomato were quoting Rs 268.68 on the NSE, higher by four percent. Jio Financial Services were quoting Rs 315.7, higher by 5.1 percent.

Eicher Motors shares were almost 8 percent higher at Rs 4,950 apiece; however, its gains came as a result of a positive earnings report for the quarter ended September. BPCL shares sank 2.5 percent to Rs 298.2 per share.

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The inclusion of Zomato would lead to passive inflows of $607 million, while the inclusion of Jio Financial Services could bring $372 in flows.

On the other hand, the exclusion of BPCL and Eicher Motors might lead to outflows of $223 million and $239 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," said the brokerage. It expects these changes based on the average free float market cap that prevailed as of November 13. The announcements regarding the index rejig are likely to occur in February 2025.

Other counters that will be included in the F&O segment are BSE, Paytm, Avenue Supermarts, Adani Green Energy, and Adani Total Gas among others.

The exchange clarified that the market lot size, strike price range, and other specifics for the newly included stocks will be communicated in an official circular on November 28, a day before the F&O trading goes live on November 29.

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