Zomato to see $513 million inflow after Sensex inclusion next week: Nuvama
Zomato is projected to witness inflows of about $513 million next week as the food delivery giant is set to enter BSE Sensex’s 30-share frontline index on December 23 as part of the planned rejig, brokerage firm Nuvama said.
The food delivery giant’s index inclusion would make Zomato the first new-age tech stock to enter the 30-share frontline index. Meanwhile, JSW Group’s shares will exit the index as part of the planned rejig to make way for Zomato.
Numvama expects JSW Group to witness outflows of about $252 million next week.
The planned index rejig comes at a time when Zomato has seen an unfazed rally in the past year. Zomato's stock price has rallied nearly 58% in the last six months and about 138% in the past year, outperforming benchmark Sensex, which has given about 14% returns in the same period.
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