Zomato Shares Dip After Deepinder Goyal-Led Company’s Inclusion In Nifty 50

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The markets once again have gotten off to another underwhelming start in red with deep cuts. The Nifty 50 index is currently trading with a decline of 0.88 per cent in its total value.

Zomato is In Nifty 50

And the situation is no different for the stock that was recently added to the elite list. Zomato, the food delivery and quick service delivery company, was added to the elite Nifty 50 list.

The company shares, however, are trading in red.

BPCL, Britannia Out

Zomato, along with Jio Financial was added to the Nifty 50, replacing Bharat Petroleum Corporation (BPCL) and Britannia.

To be listed amongst the top 50 companies, the listed companies are chosen on the basis of certain factors.

Along with that, the company is also expected to have a healthy balance sheet with reliable revenue margins. Adding to that, the company should also have a sizeable presence and market share in its industry.

The company in question should be a large-to-mega-cap company. The company should generate revenue from core activities. In addition, The stocks of the company in question should be relatively liquid.

Zomato Shares In Decline

The company shares started on a negative note, with company shares opening at Rs 219.98, far behind its previous session’s settlement of Rs 230.36 per share.

The company shares only declined further, as the trade progressed further, in the first hour of the day’s trade on Monday, February 24.

At the time of writing, the company shares decline even further, dipping by a massive 2.34 per cent or Rs 5.40. This took the overall value of the company shares to Rs 224.96 per piece.

In the past month of trade, the company shares have increased in value by a cumulative Rs 10.50 or 4.87 per cent per share. Zomato’s 52 week high stands at Rs 304.70.