NSE index rejig: BPCL and Britannia to exit, Jio Financial, Zomato to enter Nifty 50 effective March 28, 2025

NSE Index Rejig: The National Stock Exchange (NSE) announced major changes to its benchmark indices on Friday, February 21, with food delivery giant Zomato and Jio Financial Services Ltd (JFSL) set to enter the broader Nifty 50 index in the upcoming semi-annual reshuffle, effective March 28, 2025. The move signals acceptance of new age technology stocks by mainstream investors.

According to the NSE's Nifty 50 index revisions, state-run oil marketing company (OMC) Bharat Petroleum Corporation Ltd. (BPCL) and fast-moving consumer goods (FMCG) major Britannia Industries Ltd. will be excluded from the index. The announcement marks the first additions of digital-era stocks to India's most widely tracked domestic benchmark stock exchange index. 

Also Read: Nifty 50 Rejig: Jio Financial Services, Zomato likely to replace BPCL, Britannia in March rebalancing

NSE index rejig: What's behind the additions and exclusions?

Zomato was included in the BSE Sensex late last year. The index maintenance Sub-Committee of NSE Indices Ltd announced the changes to the Nifty 50 index as part of its semi-annual review, effective March 28, 2025. These changes align with the index's periodic assessment to ensure it accurately reflects the current market trends and maintains its relevance to all groups of investors.

Also Read: MSCI Rejig: Hyundai India added to Global Standard Index, Adani Green Energy deleted; Zomato, IndusInd Bank weights rise

Zomato and Jio Financial Services Ltd. have been added to the Nifty 50 index because their average free-float market capitalization over six months is at least 1.5 times that of the smallest companies being removed. Zomato's market cap is ₹1,69,837 crore, while Jio Financial's is ₹1,04,387 crore. BPCL and Britannia have market caps of Rs. 60,928 crores and ₹64,151 crore, respectively.

The rebalancing is based on the average free float market cap from August 1 to January 31. A stock must be part of the F&O segment to be eligible for inclusion in the Nifty50 index. In addition, changes have been announced in several indices, including Nifty 100 and Nifty 200. The firms included in the index cater to an increasingly tech-savvy and affluent consumer base. 

According to Nuvama Wealth Management's Alternative & Quantitative Research, the inclusion in the Nifty 50 index is estimated to lead to substantial inflows worth $631 million into Zomato shares and $320 million in Jio Finance shares. On the other hand, the exclusion of BPCL and Britannia Industries would likely result in outflows of $201 million and $240 million, respectively.

Also Read: Swiggy vs Zomato: Which food delivery stock should you buy for long-term? Here’s a 5-point analysis