Jio financial Financial News

Jio Financial Services were locked in the lower circuit of 5% for the third straight session on Wednesday, trading at Rs 224.65, amid continued selling by institutional investors. In three days, the market value of the subsidiary of Reliance Industries has eroded by more than Rs 23,700 crore. The traded volumes of 2.3 million shares on NSE were lower than the 7.3 million shares that changed hands in the previous session. On Tuesday, index provider Asia Index Pvt Ltd deferred the decision to remove the stock from all key indices of BSE, including the Sensex by three days, as the stock hit the lower circuit for two consecutive days. Jio Financial is currently part of key indices of the BSE and NSE, including the Sensex and Nifty50. Jio Financial was added to key indices on July 20 for a temporary period, to give passive and active funds holding RIL stock, an opportunity to trade in the demerged entity. It was added at a constant price of Rs 261.8, which was derived through a special pre-open session conducted by the exchanges on RIL stock. Jio Financial will exit all the S&P BSE indices on August 29, provided it does not hit a lower circuit in the 3-day period. If the stock hits a lower circuit again on Thursday, then the removal date will be deferred again by another three days. While selling continues in the domestic market, the inclusion of the stock in the global indices such as FTSE and MSCI provided no support.

₹227.25 apiece as compared to previous close of ₹239.20 on BSE. On NSE, JFSL shares hit a 5% lower circuit at ₹224.65 at the open. Jio Financial Services Limited (JFSL), the demerged financial arm of Reliance Industries, made a lackclustre stock market debut on August 21.

Jio Financial Services: The BSE has deferred the removal of Jio Financial Services Ltd, the demerged non-banking financial services unit of Mukesh Ambani-led Reliance Industries, from all the S&P BSE indices to 29 August from 24 August. Jio Financial Services listed on the bourses on Monday and hit the lower circuit for the second straight on Tuesday. Vodafone Idea: Debt-ridden telecom services provider Vodafone Idea plans to clear about ₹2,400 crore wort of dues to the government by September.

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Life insurance. The company has allocated a capital basis of Rs. 10 billion for each of the enterprises, according to media reports.

Nifty ended flat on Tuesday, August 22, as persistent concerns over US interest rates and China's economic health, although the mid-cap index rallied to a fresh record on brighter domestic prospects. The gains in shares of select heavyweights such as ITC, Larsen & Toubro and Axis Bank were offset by losses in those of HDFC Bank, ICICI Bank and TCS. Sensex closed 4 points higher at 65,220 while the Nifty closed the day at 19,396, up 3 points.

Nifty 50 and Sensex on August 28, instead of August 23 as earlier indicated. More to come…Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Jio Financial Services Ltd (JFSL) from all key indices of BSE, including Sensex has been deferred by three days, as the stock hit the lower circuit for two consecutive days, Asia Index Pvt Ltd said in a release. “JFSL will now be removed from all the S&P BSE indices effective prior to the opening of trading on Tuesday, August 29, 2023.

Why Jio Financial Services Is A Hot Stock Today | ... moreWhy Jio Financial Services Is A Hot Stock Today | MINT Detangle Explains in 1 Minute.

Jio Financial Services, the demerged non-banking financial services unit of the Mukesh Ambani-led Reliance group. "… Corporation has acquired 6.660 per cent shareholding in 'Jio Financial Services Ltd' through demerger action by 'Reliance Industries Ltd'," LIC said in a regulatory filing.Jio Financial Services listed on the stock exchanges on August 21.

Life Insurance Corporation of India (LIC), the state-run insurance behemoth, on Tuesday announced that it has acquired 6.66% shareholding in Jio Financial Services Ltd. (JFSL). In an exchange filing, LIC said that the cost of acquisition of JFSL shares, which was done through the demerger of the non-banking financial entity, is 4.68% of the pre-demerged cost of Reliance Industries as per the notice of the company dated July 19.

Reliance Industries, about 60% of the Rs 1.6 lakh crore-market capitalisation of Jio Financial Services or JFSL is nothing but a result of its 6.1% stake in parent entity RIL. As part of the demerger, JFSL has received 413 million treasury shares or 6.1% of the total share capital of RIL. At the current market price, the value of these shares is about Rs 1 lakh crore. JFSL can either sell these shares in a staggered manner or simply hold on to them.

₹239.20 apiece, 5% lower than the previous closing price of ₹251.75 apiece on the BSE. Jio Financial Services Limited (JFSL), formerly known as Reliance Strategic Investments Limited, the demerged financial arm of Reliance Industries, made its stock market debut on August 21.

Jio Financial Services fell 5% on debut Monday amid expectations of a flood of sale orders from passive funds which can't hold the shares anymore. But the company is confident of making strides in lending business with the best of technology. The shares which listed earlier than anticipated fell to ₹251.75 on the BSE, giving it a market value of ₹1.6 lakh crore, after opening trade at ₹265 apiece.

Nifty and the Sensex will sell almost 150 million shares on its imminent exit from benchmark indices. However, analysts said the stock would likely turn attractive once the near-term pricing pressure abates, thanks to its ability to leverage the ₹1 trillion of net worth bestowed in the form of Reliance Industries Ltd (RIL) treasury stock that emanates from the 2002 merger of Reliance Petroleum Ltd with RIL.

Jio Financial Services made its official debut on the exchanges, listing at a price slightly higher than its derived price. While the listing was a booster shot, the stock succumbed to selling, largely by passive index funds, who needed to adjust their portfolio ahead of the exit of Jio Financial from Nifty 50 and Sensex. The stock will be removed from the indices on Thursday, provided it does not hit the price band for two consecutive days.

Jio Financial Services (JFSL) will move out of the trade-for-trade segment and be part of the rolling segment, effective September 4, BSE and NSE said via separate circulars. Shares of the demerged entity of Reliance Industries (RIL) were officially listed on the exchanges on Monday at a slight premium to the derived price. On July 20, stock exchanges added Jio Financial to key indices, including the Sensex and Nifty 50, following the demerger of the financial services business Reliance Strategic Investments.

Reliance Industries, made its stock market debut on August 21. The stock was listed at ₹265 per share on the BSE and ₹262 per share on the NSE against the discovered price of ₹ ₹261.85 apiece. However, the JFSL shares soon crashed 5 per cent to hit its lower price band of ₹251.75 on BSE.

lending rate by 10 basis points. However, it surprised analysts by keeping the five-year rate unchanged. Analysts expected both rates to go down by 15 basis points (bps) as China, the world's second-largest economy, is facing problems like falling property prices, less spending, and decreasing credit growth.

Jio Financial Services shares commencing nearly a month after being included in indices, benchmark Nifty50 got its 51st active stock, and Sensex its 31st stock. Jio Financial shares listed on the stock exchanges on Monday at a slight premium to the derived price. On July 20, stock exchanges had added Jio Financial to key indices, including the Sensex and Nifty50 following the demerger of the financial services business of Reliance Industries.

₹265 on BSE and at ₹262 on NSE, which is at par with its market value of ₹261.85 (ascertained on JFSL record date). However, pain for shareholders didn't end here and it went down further and hit intraday low of ₹248.90 on NSE and ₹251.75 on BSE — hitting 5 per cent lower circuit on both exchanges. According to stock market experts, fair value of Jio Financial Services share price comes around ₹180 apiece levels and market is expected to discount further as the stock is still trading at much higher price than its fair value.