Jio Financial Services Share: Jio Financial Services’ share will be out of all the indices including Nifty 50 of the National Stock Exchange from September 7. NSE has given this information by issuing a press release. Even if the share of Jio Financial Services hits the lower or upper price band on September 6, the process of excluding the stock from the index will no longer be postponed.
NSE issued a press release on 5 September 2023 saying that Jio Financial Services shares have not hit the lower or upper price band on NSE on 4 September and 5 September as per the index rules. In such a situation, the Index Maintenance Sub-Committee Equity has decided that after the closing on 6th September 2023 i.e. from 7th September, the stock of Jio Fin will not be included in any index of NSE.
At present, the share of Jio Financial Services is included in 13 other indices including Nifty 50, Nifty 100, Nifty 200, Nifty Energy, Nifty India Manufacturing. Shares of Jio Financial Services have already been removed from all the indices of BSE.
Earlier, at the close of the stock market on September 5, 2023, the share of Jio Financial Services closed at Rs 255.05 with a gain of 0.63 per cent. The market cap of the company has reached Rs 162040 crore. The stock touched a high of Rs 266.95 on Monday, September 4, which is the Price Discover day on July 20.
Let us tell you that on August 21, 2023, the share of Jio Financial was listed on the stock exchange. After which there was a continuous lower circuit in the stock. But after 25 August the stock took a U-turn. Many institutional investors and mutual funds made strong purchases in the stock. At the AGM on August 28, Reliance Industries Chairman Mukesh Ambani announced that Jio Financial will soon enter the insurance sector. Since then, the stock has seen a tremendous rally.
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