Zomato Ltd and Jio Financial Services Ltd are most likely to enter blue-chip Nifty 50 index as part of September review, Nuvama Alternative & Quantitative Research has said.
The food delivery platform and Jio Financial are already part of Nifty Next 50 index, which includes the 50 stocks that are most likely to enter the blue-chip index.
Additionally, LTI Mindtree and Divi's Laboratories are most likely to drop out of Nifty 50.
Jio Financial Services was up 53 per cent year to date and Zomato jumped over 63 per cent, both outperforming Nifty Next 50 index's 34 per cent rise so far this year.
Trent went up 78 per cent and was among best gainers. In contrast, LTI Mindtree went down 15 per cent and was worst performing stock on Nifty 50.
Here's a look at Nuvama's scenarios:
Scenario 1: If Zomato and Jio Financials are not included in F&O segment
Inclusion Exclusion
Stock RIC Inflows ($ mln) Stock RIC Outflows ($ mln)
Trent TREN.NS 463 LTIMindtree LTIM.NS 188
BEL BAJE.NS 437 Divi's Labs DIVI.NS 232
Scenario 2: If both Zomato & Jio Financials are included in F&O segment
Inclusion Exclusion
Stock RIC Inflows ($ mln) Stock RIC Outflows ($ mln)
Jio Financial JIOF.NS 466 LTIMindtree LTIM.NS 188
Zomato ZOMT.NS 491 Divi's Labs DIVI.NS 232
Trent TREN.NS 463 Eicher Motors TREN.NS 262
Scenario 3: If either Zomato or Jio Financials are included in F&O segment
Inclusion Exclusion
Stock RIC Inflows ($ mln) Stock RIC Outflows ($ mln)
Jio Financial JIOF.NS 466 LTIMindtree LTIM.NS 188
or Zomato ZOMT.NS 491 LTIMindtree LTIM.NS 188
Trent TREN.NS 463 Divi's Labs DIVI.NS 232