Zomato, Varun Beverages shares rose up to 4% today, here's why 

Shares of Zomato Ltd and Varun Beverages Ltd rose up to 4% on Monday as quarterly adjustments to Nifty indices came into effect on Monday.  Zomato shares opened on a flat note at Rs 271 against the previous close of Rs 271.15. The stock closed 4.33% higher at Rs 282.90. A total of 24.37 lakh shares of Zomato changed hands amounting to a turnover of Rs 68.17 crore on BSE. The market cap of the firm rose to Rs 2.73 lakh crore. 

The stock of the online food delivery firm is bullish in the short as well as long term as the scrip is trading higher than the 5 day, 10 day, 20 day, 50 day, 100 day and 200 day moving averages. 

The multibagger stock has gained 128.70% in a year and gained 376.66% in two years.

On similar lines, Varun Beverages stock ended 3.47% higher at Rs 646.45 on BSE. 

The multibagger stock has gained 30% in a year and risen 144%% in two years. It zoomed 462% in three years and gained 915% in five years. A total of 5.14 lakh shares of the firm changed hands, amounting to a turnover of Rs 32.77 crore. Market cap of Varun Beverages stood at Rs 2.18 lakh crore. 

In terms of technicals, the relative strength index (RSI) of Varun Beverages stands at 49.1, signaling the stock is trading neither in the overbought nor in the oversold zone.

Varun Beverages shares are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 150 day and 200 day moving averages.

The stock has a beta of 0.8, indicating very low volatility in a year. 

The adjustments in indices are likely to result in passive inflows for stocks such as Zomato Ltd, Jio Financial Services Ltd and Varun Beverages Ltd and outflows for Hindustan Aeronautics Ltd (HAL), Tata Power Company Ltd and BHEL Ltd, data compiled by Nuvama Institutional Equities suggest.

Zomato is likely to attract the highest inflows due to passive buying. It is expected to see buying to the tune of 9.3 crore shares worth $299 million.

 Meanwhile, JFS stock ended 0.38% higher at Rs 306.10. Market cap of the firm stood at Rs 1.94 lakh crore. 

JFS shares may see inflows of $113 million, followed by Varun Beverages ($98 million), HCL Technologies Ltd ($78 million) and Sun Pharma ($76 million)