Zomato will replace JSW Steel in the BSE Sensex on December 23, becoming the first new-age tech company to join the index. This move is projected to bring $513 million into Zomato. Zomato’s stock has surged significantly in the past year, outperforming the Sensex. The company’s improved financials and successful relaunch of Zomato Gold contributed to its growth.
Gautam Duggad sees PE re-rating potential in 2 sectors; likes largecaps & may raise weight in Reliance
Gautam Duggal, Head of Research at Motilal Oswal, sees limited PE re-rating potential, primarily in large-cap financials and capital market stocks. He favors earnings visibility