Jio Financial Services to be removed from Sensex tomorrow. What happens next?

livemint.com:

Reliance Industries Ltd. “Asia Index Private Ltd recently announced that effective prior to the open of trading on Friday, September 01, 2023 , Jio Financial Services will be removed from all the S&P BSE Indices following its listing on Monday, August 21, 2023, due to its spin-off from its parent, Reliance Industries," said the notice on BSE. The JFSL stock did not hit the lower circuit in the previous two trading sessions, and today's session saw the Jio Financial Services share price conclude 0.41% higher at ₹233.65 apiece on BSE.

According to the guidelines, JFSL will be taken out of the S&P BSE indices today. If the JFSL stock had hit the low circuit limit today, the exchanges would have extended the date of removal of JFSL shares from indices. The bourses twice extended the removal of JFSL shares from the indices after the shares hit lower circuit for four consecutive session post listing .

Also Read: Jio Financial Services share exclusion from Sensex, other indices postponed by another 3 days to August 31 "JFSL has not hit the lower circuit on Tuesday, August 29, 2023 , and Wednesday, August 30, 2023 . As announced that should JFSL hit lower circuit on the 3rd day i.e., Thursday, August 31, 2023 the removal of JFSL from all the S&P BSE Indices will be postponed. In order to provide certainty to clients, the Index Committee has determined that a 2 PM IST cut-off time will be applied for the lower circuit limit assessment.