Jio Financial Services To Be Removed From All Indices Of NSE From 7 September 2023

Jio Financial Services Share: The share of Jio Financial Services will be excluded from all the indices including Nifty 50 index of the National Stock Exchange from 7th September. NSE has given this information by issuing a press release. Even if the Jio Financial Services stock 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 6 September 2023 i.e. from 7 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. The share of Jio Financial Services has already been removed from all BSE indices.

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 had touched a high of Rs 266.95 on Monday, September 4, which is the price discovered day of July 20.

Let us tell you that on August 21, 2023, the share of Jio Financial was listed on the stock exchange. After which the lower circuit continued to be felt in the stock. But after 25 August the stock took a U-turn. Many institutional investors and mutual funds made heavy purchases in the stock. On the other hand, on August 28, at the AGM, Mukesh Ambani, chairman of Reliance Industries, announced that Jio Financial would soon step into the insurance sector. Since then, there has been a great boom in the stock.

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