Zomato, the meal delivery company, has become the first startup to join the benchmark Sensex index of the Bombay Stock Exchange (BSE), replacing JSW Steel.
Zomato's inclusion is expected to bring in $513 million in stock inflows while JSW Steel may experience outflows of about $252 million.
Zomato's impressive financial performance, with a 69% YoY rise in revenue and a fivefold increase in net profit, has contributed to its ascent.
Zomato's entry into quick commerce (qcom) has been a significant driver of its growth, allowing it to expand revenue sources and outperform in the market.