Jio Financial Services share price ends over 2% higher amid recovery from lows

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₹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.

Jio Financial Services Ltd (JFSL), was demerged from its incubator, the billionaire Mukesh Ambani-led Reliance Industries (RIL), and it made a stock market debut on August 21. JFSL shares were listed at ₹265 apiece on the BSE and ₹262 per share on the NSE as compared to its discovered price of ₹261.85 apiece. However, JFSL share price has been hitting lower circuits since listing and has lost over 22% value from its listing price.

JFSL market capitalization now stands around ₹1,35,960 crore. JFSL shares were automatically included in the benchmark Nifty50 and Sensex indexes due to Reliance's presence. The stock was planned to be removed from the indices at the end of August 23.

Read here: Jio Financial Services share exclusion from Sensex, other indices postponed by another 3 days to August 31 However, BSE and NSE delayed the removal on August 25 for the second time till August 31, as the stock continuously hit lower circuits. Jio Financial Services stock will now be removed from all the S&P BSE indices, including Sensex, Sensex 50, BSE 100, BSE 500 among others, before opening of trading on September 1. Also Read: Why Jio Financial Services shares are hitting lower circuit everyday; Deepak Shenoy explains The relentless downside pressure in the JFSL shares was related to funds selling in JFSL stock that they had received as a part of Reliance Industries' demerger.