Zomato M-Cap Surges Past Tata Motors - See Share Price

Food delivery giant Zomato 's market cap has recently surged past Tata Motors on the bourses.

Currently, the domestic car manufacturer, Tata Motors has a market capitalisation (MCap) of 2,78,182.61 crore while, the food delivery platform, Zomato has an MCap of 2,81,693.74 crore, as of 6:30 p.m. on Wednesday.

But Why Is This Happening?

According to analysts, the shares of Zomato have been zooming ever since the announcement that the food delivery firm is set to replace JSW Steel on the BSE Sensex starting December 23.

A higher share price has therefore, led to a higher market capitalisation.

The latest reconstitution was announced by Asia Index Private Ltd, which is a subsidiary of the BSE.

As part of the reshuffling of BSE Sensex 50, some key additions include companies like Zomato, Jio Financial Services and Hindustan Aeronautics Ltd.

Among companies exiting the index are HDFC Life Insurance Company, Bharat Petroleum Corporation Ltd and LTI Mindtree.

Share Prices

Zomato's shares closed 1.65 per cent lower at Rs 291.90 per share, while the shares of Tata Motors were down 3.03 per cent and closed at Rs 755.70.