Zomato shares may see $700 million inflow if it bags Nifty seat this month
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With the Nifty rejig about to take place in March, Zomato shares could see an inflow of $702 million if the company is included in the index, states a report by domestic brokerage firm JM Financial. Zomato's potential inclusion is expected to bring a significant inflow of funds, estimated at $702 million, which could drive up demand for its shares. The expected share inclusion is 261.8 million. The official announcement regarding Nifty constituent changes is anticipated in February 2025, with the changes taking effect from March 31, 2025. This substantial inflow is attributed to the passive investment strategies of index funds and exchange-traded funds (ETFs) that track the Nifty 50 index. The potential inclusion in the Nifty could also improve Zomato's visibility and liquidity, making it more attractive to a broader range of institutional investors. While the estimated inflow is a significant factor, the actual impact on Zomato...