Zomato Joins Sensex 30: A Milestone for the Food Delivery Giant
Zomato, a leading player in India’s food delivery and quick-commerce industry, is set to be included in the prestigious BSE Sensex 30 on December 23, 2024, replacing JSW Steel. This marks a historic milestone as Zomato becomes the first technology-based company to join the benchmark index. This inclusion is expected to generate passive investment inflows of around $513 million (approximately ₹4,356 crore) as index funds realign their holdings to incorporate Zomato shares. Analysts view this as a strong affirmation of Zomato’s growing dominance in the market. Zomato has become the first modern tech company to secure a spot in the benchmark index, replacing JSW Steel. According to a brokerage firm, the removal of the JSW Group entity is expected to result in outflows amounting to $252 million. Also read on Mamata Machinery ipo details What Brokerage Firms Are Saying Leading brokerage firms have expressed confidence in Zomato’s potential for sustained growth and profi...