Jio Financial Services Share: The share of Jio Financial Services saw a strong rise even today. The company’s stock has hit an upper circuit of 5 per cent as soon as the stock market opens on Wednesday. It was at Rs 231.25 per share on 30 August. On the other hand, its shares were up 4.31 percent till the close of the market on Tuesday.
According to reports on Tuesday, Jamnagar Utilities and Power, the promoter unit of Reliance Industries, has bought 5 crore shares at a price of Rs 208 to 211 per share. Earlier, there was another big deal regarding Jio Financial Services on the National Stock Exchange.
Motilal Oswal Mutual Fund had bought 3.72 crore shares of Jio Financial Services in a bulk deal on Friday, August 25, 2023 at a price of Rs 202.8. In such a situation, the stock of Jio Financial Services has continued to rise for the last two days. Today its stock has hit upper circuit of 5%.
The stock has gained in the last five days
Jio Financial Services’ stock has been witnessing a strong rise for the last five days. The stock of the company has given a return of 8.34% from August 24, 2023 to August 30, 2023. This is the second time after the listing on August 21 that the company has installed the upper circuit.
Which businesses will Jio Financial Services do?
On August 28, 2023, at the AGM of Reliance Industries, the company’s chairman Mukesh Ambani had said that Jio Financial Services will offer life, general, health insurance products in collaboration with global companies. Ambani said that 142 crore Indians will get benefit from Jio Financial. Although its stock had declined after the announcement in the AGM, but on Tuesday the shares rose 4.31 per cent and 5 per cent.
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