Shares of Jio Financial Services Ltd and Zomato Ltd climbed up to 3 per cent in Thursday's trade, as the two stocks are seen as major contenders to be included in Nifty in the March 2025 rejig. The announcement is likely by the second half of February 2025.

In case Zomato and Jio Financial do get included in the Nifty next year, Nuvama expects the exclusion of stocks like BPCL and Eicher Motors from the index. If that happens, Eicher could see outflows worth $263 million and $246 million for BPCL.

Discover the Jio Financial Services Stock Liveblog, your go-to destination for real-time updates and comprehensive analysis of a top-performing stock. Keep track of Jio Financial Services's latest details,

Jio Financial Services and Zomato are poised to replace Bharat Petroleum Corporation Limited (BPCL) and Eicher Motors in the Nifty 50 index druing its rebalancing in March 2024, according to JM Financial.