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₹262 and within few minutes of listing the stock went on to hit lower circuit. However, weakness in Jio Financial share price continued further and the scrip went on to hit lower circuit on all five sessions last week.

financial inclusion model and move much faster, said Dinesh Kumar Khara, SBI Chairman, on Thursday. “If you look at it in our country, I think it's a lesson for all of the globe on how the payment system could be so efficient, cheap and economical,” Khara said in an exclusive interview with ET on the sidelines of B20 Summit organized by CII in New Delhi. Khara noted that if Jan Dhan had been a pure vanilla account, people would not have shown so much interest in the scheme and it is the addition of services which has given it nuance. “Now it has gone beyond.

Jio Financial Services (JFS) fell 1.7% on Friday, extending its losing run to the fifth straight session following its listing on the bourses on August 21. The stock ended at Rs 212.25 on Friday, almost 20% below its listing price of Rs 265 after hitting the lowest tradable limit for four straight days till Thursday. The stock decline resulted in Jio Financial's market capitalisation falling to Rs 1.35 lakh crore from Rs 1.61 lakh crore on the listing day. Concerns over elevated valuation coupled with selling by passive funds resulted in the stock decline during the listing week, according to analysts.

India has leapfrogged over the last decade and other countries can learn from its financial inclusion model and move much faster, State Bank of India (SBI) chairman Dinesh Kumar Khara said on Thursday. «If you look at it in our country, I think it's a lesson for all of the globe on how the payment system could be so efficient, cheap and economical,» Khara told ET on the sidelines of the B20 Summit. He said if Jan-Dhan had been a pure vanilla account, people would not have shown so much interest and that it is the addition of services that has given it nuance.

Paytm, among others saw heavy buying and selling on Friday, August 25 among bulk and block deals on stock exchanges BSE, NSE. The stocks were in focus accordingly during the trading session today. Shares of One97 Communications, which operates Paytm, opened higher at ₹915 on the news of the bulk deal.

Mutual Fund (MF) acquired 3.72 crore of Jio Financial Services Ltd (JFSL)shares, which is the demerged non-banking financial services (NBFC) unit of the Mukesh Ambani's Reliance group, for ₹754 crore via open market transaction. According to the NSE's bulk deal data, Motilal Oswal Mutual Fund purchased 3,72,00,000 shares, or 0.6% of Jio Financial Services. Also Read: Reliance Industries shares volatile as all eyes on 46th AGM; experts positive on the stock The shares were bought for an average price of ₹202.80 each, making the total transaction amount of ₹754.41 crore.

India, August 25, 2023:BankSathi, a pioneering fintech social commerce startup, takes pride in announcing its remarkable achievement as the third-largest credit card issuer in India with 3.6 lakh ARR. The startup has issued 3 lakh credit cards as of June 2023, a 4X increase in cards over the previous fiscal year.

Geojit Financial Services. For the week, Sensex slipped by 0.10 per cent while the Nifty declined by 0.23 per cent. On the other hand, the BSE Midcap index rose 1.50 per cent while the Smallcap index jumped 2.19 per cent for the week.

Reliance Industries Limited will hold its annual general meeting (AGM) with the shareholders on August 28. Investors will be glued to this 46th Reliance industries AGM as Chairman Mukesh Ambani usually makes key announcements related to growth and expansion plans in these meetings. While major decisions are expected to unfold around new energy ambitions, succession plans, retail services and the telecom sector, the newly formed Jio Financial Services will be in focus as it was recently listed on the stock exchanges on August 21.What to expect? The meeting is expected to lay out a future plan for JFS that was demerged from RIL in July. Ambani is likely to share growth plans for the financial services business following its tie-up with the world’s largest asset manager, BlackRock, to take on India’s $540 billion mutual fund industry. JFS is likely to enter the B2B credit business first to leverage its large wholesale business network and then consumer lending. The aim is to lend to consumers and merchants based on proprietary data analytics, and then use it to branch out to insurance, payments, digital broking and asset management, according to Mukesh Ambani. As various financial services are governed by different regulatory frameworks, we believe, an independent financial services entity will allow us to access the opportunities available in the Indian market, said Ambani in the annual report of RIL. He also said JFS along with its subsidiaries will leverage the technological capabilities of Reliance and digitally deliver financial services, democratising access to financial services offerings for Indian citizens.

₹205.15 apiece on the BSE on Friday. However, the stock witnessed some buying and recovered from day’s low to hit an intraday high of ₹225.00 apiece. About 227 million JFSL shares changed hands on Friday, Reuters reported.

We take a look at what analysts are saying on the stocks of the Nifty financial service index.This becomes important because it is a sector which tends to lead the market in both directions. Whether it is upward or southward movement.

JFSL shares were listed on stock exchanges on Monday, August 21, after a demerger from its Reliance Industries (RIL). However, JFSL share price have been hitting lower circuits since listing weighed down by heavy selling from institutional investors.

Around one in three United States investors would be open to following AI-generated financial advice without verifying it with another source, according to a recent survey.

Bajaj Finance share price gained 2% in the early trade on Friday after global brokerage firm Nomura initiated coverage on the stock with a ‘Buy’ rating. Nomura has set a target of ₹8,700 for Bajaj Finance shares, which implies an upside of nearly 22% from Thursday’s closing price. Nomura said that Bajaj Finance continues to deliver strong numbers across the parameters with Asset Under Management (AUM) CAGR of 31% over FY13-Q1FY24.

Fox News Contributor Jonas Max Ferris and Quill Intelligence CEO Danielle DiMartino discuss the population exodus from Democrat states to GOP states over taxes, cost of living and crime on 'Cavuto Live'.

Universal AutofoundryAce investor Ashish Kacholia has picked up a stake in iron casting maker Universal Autofoundry through block deals on Thursday.PaytmAntfin is likely to sell 3.6% stake in fintech major Paytm through a block deal on Friday, according to reports.Read more: What changed the market while you were sleepingCoforgePromoter Baring PE, through its affiliate Huslt BV, has sold its entire stake in IT services company Coforge through bulk deals on Thursday.Max FinancialMax Ventures Investment Holdings, a promoter group entity of Max Financial Services, on Thursday, sold 3.3% stake in the company for Rs 982 crore.Union BankUnion Bank board approved closure of QIP on Thursday after receipt of application forms for an aggregate amount of Rs 5,000 crore.InfosysInfosys has on boarded Tennis icon Rafael Nadal as ambassador for the brand and Infosys’ Digital Innovation.Hero MotoCorpHero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, announced the launch of New Glamour.Astra MicrowaveThe company has bagged orders worth Rs 158 crore for supply of satellite sub-systems, airborne radar and sub-systems of radar and EW projects, from DRDO, ISRO and DPSU.

Max Financial Services, offloaded a 3.6% stake in the company for ₹1,091 crore through open market transactions. Nippon India Mutual Fund (MF), ICICI Prudential MF, Kotak MF, Kotak Mahindra Life Insurance, HDFC Standard Life Insurance, Morgan Stanley Asia Singapore, International Monetary Fund and Plutus Wealth Management among others were the buyers of the shares of MFSL on both BSE and NSE. Max Financial Services Ltd (MFSL) is the holding firm for Max Life Insurance Company.

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Coforge, Max Financial, Manappuram Finance, RBL Bank and Sapphire Foods saw heavy buying and selling on Thursday, August 24 among bulk and block deals on stock exchanges BSE, NSE. The stock were in focus accordingly during the trading session. Shares of Coforge surged over 9 per cent to hit the day's high of ₹5,403.85 apiece on the BSE after a block deal.

I am 41 years old and work at a PSU bank, earning a gross monthly pay of ₹1.8 lakh. I reside in a company-leased accommodation and receive around ₹30,000 per month in perks. Medical expenses for my family are fully reimbursed. Our monthly expenses total approximately ₹25,000. My financial assets include: bank fixed deposit (FD) of ₹30 lakh, savings account balance of ₹2.5 lakh, balance in US checking account of $65,000, investment in shares and sovereign gold bond worth ₹10 lakh, investment in mutual funds worth ₹21.57 lakh, systematic investment plans (SIPs) of ₹5,000 in SBI Consumption Opportunity, ₹10,000 in SBI Small Cap, ₹2,000 in SBI Magnum Global Fund, ₹1,000 in focused equity), and have ₹16 lakh in public provident fund (PPF). I own one apartment (possession pending) valued at ₹50 lakh, and another (yielding monthly rental of ₹15,000) valued at ₹65 lakh. I have a home loan of ₹18 lakh and a ₹10 lakh car loan. I have insurance coverage of ₹1 crore with a term plan. How can I invest for a robust financial plan?

Max Financial Services, on Thursday, sold 3.3% stake in the company for Rs 982 crore. The promoter group entity sold 1.12 crore shares in Max Financial at Rs 873 apiece. This is at a discount of around 1% to Wednesday’s closing price of the stock. As of June-end, Max Ventures Investment held a 10% stake in the financial services company. Despite the selling, shares of Max Financial ended nearly 3% higher at Rs 904.35.