In intraday trading on Thursday, shares of Jio Financial Services, food delivery behemoth Zomato, broking firm Angel One, and digital payments platform One 97 Communications — which runs payment aggregator Paytm—rose by as much as 7% on the National Stock Exchange (NSE) following their inclusion in the new list of scrips that are eligible to trade in the futures and options (F&O) segment as of November 29, 2024.
The updated list of scrips that are allowed to trade in the F&O segment now includes 45 securities, according to the announcement made by stock exchanges on Wednesday. The exchanges stated that as on November 29, the new entrants will be accessible for trading in the F&O segment.
"On November 28, 2024, members will receive a separate circular informing them of the market lot, strike plan, and quantity freeze limit of the aforementioned securities," the National Stock Exchange (NSE) said.
New-age companies and enterprises that were listed within the last two years can now be included in the benchmark indexes thanks to the new entry. Only scrips that are accessible for F&O trading can be included to the benchmark indexes.
Jio Financial Services, one of the individual stocks, has jumped by about 7% to Rs 318.90 on the NSE. Up until 10:25 AM, a total of 14 million equity shares were exchanged on the NSE and BSE, significantly doubling the usual trading volumes on the counter.
Due to high activity, Zomato's shares increased 4% to Rs 269.50. On the NSE and BSE, 30.5 million equity shares were exchanged. Based on an 8.5x FY26E price/sales ratio, Geojit analysts have reaffirmed their 'Buy' recommendation on the stock, with a revised target price of Rs 284.
The management of Zomato anticipates that the Gross Order Value (GOV) of the going-out segment will increase by more than three times in the future, from Rs 323 crore in FY24 to Rs 1,000 crore. The ability of the business to add more use cases to the platform, such as shopping and staycations, will determine future growth prospects.
"With the current performance metrics showing improvement, we believe that growth in all key areas — orders, AOV, and new user acquisition — should enhance the profitability going forward," the brokerage company stated.
In the meantime, Adani Green Energy, Adani Total Gas, BSE, Avenue Supermarts, Varun Beverages, and YES Bank have all increased by about 2%. The Nifty 50, by contrast, was up 0.17 percent at 23,599
