Zomato Ltd. will be added to the Sensex from Dec. 23, while JSW Steel Ltd. will be removed from the index, the BSE Ltd. said on Friday while announcing its periodic rebalancing of constituents. Asia Index Pvt. carries out periodic reconstitution of BSE indices.
The move comes after the Zomato stock rallied 112% so far this year and 129% in the past 12 months. As of Friday's close, the restaurant aggregator's market capitalisation stood at 2.33 lakh crore. The scrip closed 0.7% lower at Rs 265 apiece.
Meanwhile, shares of JSW Steel ended 3.5% higher at Rs 977.35. The scrip was added to BSE Sensex in July 2023 to replace Housing Development Finance Corp., following the merger with HDFC Bank Ltd.
Companies are added and excluded from Sensex based on their average six-month float-adjusted market capitalization. The index serves as both a benchmark and an investable index and is comprised of 30 large, well-established, and financially sound companies across key sectors.
As part of the review, here are the rejigs of the other indices:
BSE 100
Ashok Leyland Ltd., PI Industries Ltd., IDFC First Bank Ltd., Indian Railway Catering and Tourism Corp., UPL Ltd., and APL Apollo Tubes Ltd. have been removed from the BSE 100.
They have been replaced by Jio Financial Services Ltd., Suzlon Energy Ltd., Adani Green Energy Ltd., Adani Power Ltd., Samvardhana Motherson International Ltd., and PB Fintech Ltd.
BSE Sensex 50
HDFC Life Insurance Co., Bharat Petroleum Corp. and LTI Mindtree Ltd. have been excluded from BSE Sensex 50.
Zomato Ltd., Jio Financial Services Ltd. and Hindustan Aeronautics Ltd. have been added.
BSE Sensex Next 50
Zomato, HAL, Ashok Leyland, P.I. Industries, IDFC First Bank, IRCTC, UPL and APL Apollo Tubes will no longer be a part of BSE Sensex Next 50.
To take their place, Adani Green Energy, HDFC Life Insurance, BPCL, LTI Mindtree, Samvardhana Motherson International, PB Fintech, Suzlon Energy and Adani Power will be added.
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