Zomato Shares Jump 7.6% Intraday On BSE Sensex Inclusion

by · Inc42

SUMMARY

  • With this, Zomato is set to replace JSW Steel in the 30-stock benchmark index as part of the upcoming reconstitution, effective December 23
  • Besides, its shareholders approve raising INR 8,500 Cr (around $1 Bn) through a qualified institutional placement (QIP)
  • Last week, global brokerage firm Morgan Stanley projected that Zomato stock has the potential to double in value within five years