Jio Fin, Zomato, Angel One, Paytm rally up to 7% on inclusion in F&O pool

The new entries also allow the benchmark indices to encompass in themselves new-age companies and firms that were listed in the past two years.

By Connect Gujarat Desk 14 Nov 2024

in Business

Jio Fin, Zomato, Angel One, Paytm rally up to 7% on inclusion in F&O pool

New Update

Shares of Jio Financial Services, food delivery giant Zomato, broking firm Angel One and digital payments platform One 97 Communications, which operates payment aggregator Paytm, have rallied by up to 7 per cent on the National Stock Exchange (NSE) in Thursday’s intra-day trade after these companies were added to the new list of scrips eligible for trading in the futures and options (F&O) segment with effect from November 29, 2024.

Stock exchanges on Wednesday announced the addition of 45 stocks to the new list of scrips eligible for trading in the F&O segment. The new entrants will be available for trading in the F&O segment from November 29, the exchanges said.

The new entries also allow the benchmark indices to encompass in themselves new-age companies and firms that were listed in the past two years.

Only scrips available for F&O trading are eligible for inclusion in the benchmark indices.

Among the individual stocks, Jio Financial Services has surged nearly 7 per cent to Rs 318.90 on the NSE.

The average trading volumes on the counter nearly doubled with a combined 14 million equity shares changing hands on the NSE and BSE till 10:25 AM.

Shares of Zomato gained 4 per cent to Rs 269.50 on the back of heavy volumes. A combined 30.5 million equity shares changed hands on the NSE and BSE.

Sources have reiterated a 'Buy' rating on the stock with a revised target price of Rs 284, based on 8.5x FY26E price/ sales.

Zomato's management expects the going-out segment's gross order value (GOV) to grow more than 3x moving forward, reaching upwards of Rs 1,000 crore from Rs 323 crore in FY24.

There is further potential for growth contingent upon the company's ability to introduce additional use cases to the platform, including shopping and staycations.

#Business #Paytm #Zomato #Jio