Jomato and Jio Financial Services may find a place in the upcoming changes in the benchmark Nifty-50 in March. It is believed that Nuwama is of Altonative and Quantitative Research.
In a report, the research firm said that we are confident that both these shares can replace BPCL and FMCG veteran Britannia in the index.
Nuwama said that this change can bring a lot of investment in Jomato and Jio Financial. It is estimated that this investment will be $ 63.1 million and $ 32 million respectively.
On the other hand, due to the release of BPCL and Britannia, they could sell $ 20.1 million and $ 24 million respectively. It has been said that the two-wheeler’s veteran Hero MotoCorp can be successful in maintaining the situation with a slight increase in the 50-Shary index.
Earlier, JM Financial also estimated Jomato and Jio Financial to join the benchmark. After their involvement, the brokerage house is expecting an investment of $ 65 million and $ 35.6 million respectively.