Zomato has officially replaced JSW Steel in the 30-share SENSEX index as of Monday. This change is part of the recent reconstitution conducted by Asia Index Pvt Ltd, a subsidiary of the Bombay Stock Exchange (BSE).
On the same day, Zomato’s shares experienced a decline, trading in negative territory as they made their debut on the benchmark SENSEX index. The stock price fell by as much as 3%, reaching ₹273.15 per share on the BSE. By 10:31 am, it had decreased by 0.37% to ₹280.80, resulting in a market capitalization of ₹2,70,692.34 crore. Additionally, on the National Stock Exchange (NSE), the stock dropped 0.62% to ₹280.35.
Zomato’s inclusion in the SENSEX follows a year of strong performance, with the stock appreciating by 38% over the past six months, 124.79% year-to-date, and 114.29% over the last year. However, investors are reminded that historical performance does not guarantee future results.
In the quarter ending September 2024, the online food delivery service reported a remarkable 388.8% increase in its consolidated profit after tax, amounting to ₹176 crore, compared to a profit of ₹36 crore in the same quarter of the previous year.
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