Zomato shares jump 7%; stock to replace JSW Steel on Sensex effective December 23

Zomato shares surged 7% to hit a day’s high of Rs 282.85 on the BSE on Monday, following news that the food delivery company will join the prestigious BSE Sensex. Zomato is set to replace JSW Steel in the 30-stock benchmark index as part of the upcoming reconstitution, effective December 23.

On Friday, Asia Index Private Ltd, a wholly-owned subsidiary of BSE, announced the reconstitution of multiple indices, including the BSE Sensex, BSE 100, BSE Sensex 50, and BSE Sensex Next 50.