In a major boost for Reliance Industries Chairman Mukesh Ambani and his son Akash Ambani, Jio Financial Services will become a part of BSE Sensex 50 from December 23, 2024. The exercise is a part of the latest reconstitution announced by Asia Index Private Ltd, a subsidiary of BSE.
According to a reliable agency report, Akash Ambani-led Jio Financial Services, along with online food delivery giant Zomato, will be included in the benchmark BSE Sensex. The changes will take effect on December 23, 2024, the Asia Index has announced this recently.
The inclusion of Zomato in the 30-stock index marks a significant milestone for the company, which has seen an impressive rally over the past year. India’s food delivery giant, Zomato expects its core meal delivery business to grow at an annual rate of 30% over the next five years.
Apart from Zomato and Jio Financial Services, another key addition in the list is Hindustan Aeronautics Ltd (HAL). Major names like HDFC Life Insurance Company, Bharat Petroleum Corporation Ltd and LTI Mindtree are set to exit the index.
According to Asia Index, the reconstitution extends beyond the Sensex, impacting other indices such as the BSE 100, BSE Sensex 50, and BSE Sensex Next 50.
Akash Ambani, the son of Asia’s richest man, Mukesh Ambani, is the chairman of Reliance Jio Infocomm Limited (RJIL). Akash’s company, Jio Financial Services, is valued at over $20 billion.
Jio Infocomm is the largest mobile network operator in India and the third largest mobile network operator in the world with over 46.37 crore (463.78 million) subscribers.
The net worth of Reliance Industries Chairman, Mukesh Ambani, has recently witnessed a slight uptick. According to Forbes Real-Time Billionaires List, Mukesh Ambani real-time net worth is pegged at just under $100 billion, reaching $99.3 billion as of November 23, 2024.
SpaceX CEO remains the richest person in the world, with a net worth of $334 billion, making him only member of the $300 billion club, according to Forbes.
Illustrative, the BSE SENSEX (also known as the S&P Bombay Stock Exchange Sensitive Index or simply SENSEX) is a free-float market-weighted stock market index of 30 well-established and financially sound companies listed on the Bombay Stock Exchange. Over 6000 companies are listed under the Bombay Stock Exchange, and practically it would be impossible to analyze the performance individually. To solve this issue, BSE uses Sensex. Sensex picks up 30 companies that are luring, performing, and best for the market.
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