Zomato, Jio Fin, Britannia, BPCL trade lower after NSE announces rejig

Shares of Zomato, Jio Financial Services which are to be included in the National Stock Exchange (NSE) Nifty50 effective March 28, 2025, traded lower on Monday, February 24, 2025. NSE on Friday had informed about the rejig through a circular. 

 

As per the notification, Zomato and Jio Financial will replace Bharat Petroleum Corporation and Britannia Industries on the 50-share index. 

 

"The Index Maintenance Sub-Committee (Equity) of NSE Indices Limited has decided to make replacement of stocks in various indices as part of its periodic review as listed hereunder. These changes shall become effective from March 28, 2025 (close of March 27, 2025)," the NSE circular read. 

 

Around 9:25 AM, Zomato shares were down 2.46 per cent, Jio Financial was down 0.81 per cent, Britannia was down 0.66 per cent and Bharat Petroleum Corporation (BPCL) was down 0.16 per cent on NSE. In comparison, NSE Nifty50 was down 0.71 per cent at 22,633.45. 

 

NSE indices rejig is part of a semi-annual review, the removal of Britannia and Bharat Petroleum Corporation from the flagship Nifty 50 index will lead to selling pressure of over Rs 2,000 crore for each stock. 

 

Meanwhile, Jio Financial Services and Zomato, which are being added to the Nifty 50, will see buying inflows of Rs 3,128 crore and Rs 6,525 crore, respectively. However, net inflows will be slightly lower due to liquidation by passive trackers following their removal from the Next 50 index.

 

Besides, stocks to be included in the Nifty next 50 index traded mixed around 9:25 AM, with Bajaj Housing Finance down 0.61 per cent, C G Power down 2.51 per cent, and Swiggy down 1.83 per cent. However, Hyundai Motor was up 0.51 per cent. These additions are expected to attract passive flows ranging from Rs 100 crore to Rs 950 crore, according to an analysis by IIFL Institutional Equities.

 

Further, Nifty next 50 stocks that will be excluded from the index traded lower with Adani Total Gas down 0.99 per cent, Bharat Heavy Electricals (BHEL) down 1.88 per cent, IRCTC down 1.42 per cent, NHPC down 2.05 per cent and Union Bank of India down 0.49 per cent. These stocks are expected to face selling pressure of about Rs 300 crore each.

 

Experts said that given the recent market decline, stocks added to the two indices may see gains leading up to the rebalancing.