Jio Financial and Zomato are strong contenders for being part of the equity derivatives segment, according to Nuvama Alternative and Quantitative Research.
“The real excitement kicks in if F&O inclusion for both these names happens within the next few months,” said Nuvama Alternative’s head Abhilash Pagaria. “This could pave the way for Zomato and Jio to enter the Nifty 50 in the March 2025 review.”
The Securities and Exchange Board of India (Sebi) on Friday changed the criteria for stocks’ inclusion into the futures and options segment.
IIFL Alternative Research sees 64 inclusions and 23 exclusions as a result of these changes. “If a stock in F&O fails to meet new eligibility criteria for a continuous period of three months, on a rolling basis, then it shall exit from F&O,” said IIFL Alternative’s head Sriram Velayudhan. “No new contract shall be issued on stocks that may exit the F&O segment.”Nuvama estimates 80 inclusions and 18 exclusions on account of the new Sebi rules. Some large stocks in the likely inclusion lists of both brokerages are Jio Financial, LIC, BSE, Avenue Supermarts (DMart), Adani Green, CDSL, Macrotech Developers (Lodha), Angel One and Yes Bank.New-age names like Zomato, PB Fintech (Policy Bazaar), Delhivery, Paytm, and Nykaa along with rail and shipbuilding companies such as IRFC, RVNL, Mazagon Dock Shipbuilders and Cochin Shipyard, among others, could be the other inclusions, said both the brokerages.According to Nuvama Alternative, Abbott India, Metropolis Healthcare, Gujarat Gas and Can Fin Homes among others could be excluded.
“Additionally, a PSF (Product Success) Framework will be used to evaluate the exit of stocks,” said Nuvama.
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