After all-round discussions, Mukesh Ambani’s new share was listed in the market this week. After the demerger from Reliance Industries, the shares of Jio Financial Services Limited were listed on BSE and NSE on Monday. Even though it was being discussed a lot, but the experience in the stock market so far has not been good. After listing on Monday, this stock is facing lower circuit every day.
So many crores of investors swung in 3 days
Jio Finance shares fell 5 percent on opening on Wednesday. And came down to Rs 224.65. Earlier, on Monday and Tuesday also, Jio Finance’s stock had a lower circuit. Due to this, the investors of the company are suffering huge losses. After entering the market, investors of this stock have lost more than Rs 23 thousand crore in just three days. So this stock has made huge loss as soon as the market opened. As soon as the trading started, the company’s value declined by about Rs 7,500 crore and its market capitalization came down to Rs 1.43 lakh crore. Jio Finance’s stock has become so bad in the market that it is not getting its takers. According to NSE data, more than 13.6 crore shares of Jio Finance are still unsold as buyers could not be found for them.
The listing of the stock did not go well
< p>The share value of Jio Finance was fixed at Rs 261.85 as per the record date. Its listing in the market on Monday was not significant and the stock opened at Rs 265 on BSE and Rs 262 on NSE. However, in no time he installed the lower circuit. After that, the share price fell by 5 percent on Tuesday as well. In this way, the stock has fallen by about 15 percent in 3 days. given. Market investors and analysts are all grappling with the same question as to how far this stock is going to settle down? Looking at the opinion of market experts, it seems that there is scope for further decline in this stock.
The stock may fall to this price
Kishore Ostwal of CNI Research is the chairman of Jio Finance. Regarding the situation ahead, it is said that there is a need to wait for at least six months, only then it will be known at what level this stock will settle. He said that at the time of announcement, a price of Rs 163 was discovered for this share, which should be the correct price. It may take up to six months to stabilize.
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