NIFTY 50 Index Shake-Up: Jio Financial and Zomato Emerge as Potential Inclusions in March 2025
In a significant development, the National Stock Exchange (NSE) has announced that two new companies, Jio Financial Services and Zomato, are being considered for inclusion in the Nifty 50 Index. The index, which represents the top 50 most liquid stocks on the NSE, is seen as a benchmark for the Indian equity market.
According to sources, Jio Financial Services, a subsidiary of Reliance Industries Limited, has been identified as a potential candidate for entry into the Nifty 50 Index. The company's stock price has surged over 5,000% in the past year, driven by strong performance in its financial services segment.
Similarly, Zomato, an e-commerce and food delivery platform, is also being considered for inclusion in the Nifty 50 Index. The company's stock price has increased significantly in recent months, driven by strong demand for its services.
The two companies were picked from among a pool of over 800 candidates, and their inclusion in the Nifty 50 Index would mark a significant milestone in their journey to becoming blue-chip stocks.
Government Delivers on Tax Relief Amid Narendra Modi's 10-Year Tenure
In a major move, the government has announced that tax relief has been given to individuals earning less than ₹20 lakh per annum, which is expected to benefit over 90% of Indian taxpayers. The move was seen as a way to boost consumer spending and stimulate economic growth.
However, the government has also increased taxes on individuals with an annual income above ₹50 lakh, in an effort to shore up revenue for specific programs and schemes.
The decision to increase taxes above ₹20 lakh follows Narendra Modi's ten-year tenure as Prime Minister. For the past 10 years, the government has been focused on growth-oriented policies, leaving behind a legacy of fiscal deficit. The new policy now aims to reverse that trend by boosting income through direct tax measures.
Donald Trump and His Administration Boost Cryptocurrency Prices
The re-election of Donald Trump is causing a surge in cryptocurrency prices, leading some observers to question whether his influence could be driving the upward pressure on digital assets.
Bitcoin price surged past $90,000 mark on Wednesday as investors took cues from the election outcome. Meanwhile the Ether soared 37% since November 5th and Dogecoin gained over 150%, drawing attention to Trump's ability to boost cryptocurrency prices even before taking office.
"It is not a surprise given previous performance of this brand," said Sumer Juneja, managing partner at SB Vision Fund, about Bitcoin gaining nearly $500 million in return after investment by SoftBank three years ago.