Jio Financial Services Shares Hit Lower Circuit In Debut Trade

New Delhi:

Shares of Jio Monetary Companies, the demerged monetary providers unit of Reliance Industries, listed on the bourses on Monday, with the inventory falling almost 5 per cent on the NSE later within the commerce.

On the BSE, shares of the corporate started the commerce at Rs 265, up 1.20 per cent towards Rs 261.85, the value mounted at a particular value discovery session held final month. Nevertheless, the inventory later fell by 3.85 per cent to hit Rs 251.75 — its decrease circuit restrict — towards Rs 261.85.

Shares of the corporate listed at Rs 262 on the NSE however later declined 4.94 per cent to Rs 248.90 — its decrease circuit restrict.

The corporate commanded a market valuation of Rs 1,59,943.93 crore in morning offers.

Jio Monetary Companies Ltd (JFSL) demerged from Reliance final month.

In a particular value discovery session held on the document date final month, the inventory’s pre-listing value got here out to be Rs 261.85.

“Buying and selling members of the trade are hereby knowledgeable that efficient from Monday, August 21, 2023, fairness shares of Jio Monetary Companies Ltd (previously generally known as Reliance Strategic Investments Restricted) shall be listed and admitted to dealings on the trade within the checklist of T Group of securities,” BSE stated in a discover on Friday.

The scrip might be within the Commerce-for-Commerce section for 10 buying and selling days, it had stated.

Reliance Industries demerged its monetary providers enterprise into RSIL (Reliance Strategic Investments Ltd), which was renamed as JFSL. Shareholders obtained one JFSL share for every Reliance share they held.

Within the fairness market, the 30-share BSE Sensex was buying and selling with a achieve of 236.55 factors at 65,180.58. The NSE Nifty rose 67.90 factors to 19,378.05.

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