BSE Sensex Stocks Rejig: Online food delivery company Zomato has been included in the BSE Sensex stocks. Zomato will replace JSW Steel among 30 Sensex stocks. Zomato will start trading in Sensex from 23 December 2024. BSE’s subsidiary Asia Index Private Limited has announced the restructuring of BSE indices in which it has been decided to include Zomato in BSE Sensex 30 and BSE Sensex 50.
Zomato gave multibagger return after listing
Zomato’s IPO came in July 2021. And since its listing on the stock exchange, the stock has given multibagger returns to its shareholders. Zomato’s IPO came at an issue price of Rs 76 and the stock closed at Rs 264.20 on Friday, November 22, 2024. And during this period the stock has given a return of 250 percent to the shareholders. The stock has given returns of 114 percent in the year 2024 and more than 300 percent in the last 3 years.
Will trade in Sensex from December 23
After the closing of the stock market on Friday, Asia Index Private Limited reorganized the BSE indices in which Zomato was announced to be included in the 30 Sensex stocks. Zomato will trade in Sensex 30 from December 23.
Zomato will also be included in Nifty 50!
There are chances that Zomato can also be included in the Nifty50 index of the National Stock Exchange. NSE has included Zomato in its Future & Options stocks. Now there is a possibility that Zomato may be included in Nifty 50 in the rebalancing of Nifty index in February 2025. Brokerage firm JM Financial has also predicted the inclusion of Zomato in Nifty 50 in its report.
Zomato’s stock will double!
Morgan Stanley has recently said in its report that Zomato’s stock may double in the next three years. That means, if the brokerage house is to be believed, the stock can even cross Rs 500. In its coverage report on Zomato, it has given overweight rating and given a target of Rs 355. According to the report, due to the increasing share of Quick Commerce in India’s retail market, strong balance sheet, expansion of food delivery business, the company has the potential to make huge profits by 2030.
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