A big update has come out regarding Jio Financial Services. Actually, now the circuit of shares of this company has been increased. In such a situation, it has become very important for people doing business in the stock market to keep this in mind. Let us know about it in detail…
JIO: An important update has come regarding Jio Financial Services, a company led by businessman Mukesh Ambani. Actually, recently the stock of Jio Financial Services has been listed in the stock market. At the same time, now its circuit limit has also been changed.
The country’s leading stock exchange BSE has updated the circuit limit for shares of Jio Financial Services, the non-banking financial services arm of Mukesh Ambani-led Reliance Group, from the existing five percent to 20 percent.
Jio Financial Services
According to the notification issued by BSE, the new circuit limit will be applicable from Monday, September 4. This step will ensure that the company’s share price does not fluctuate more than a certain limit in a session. Apart from this, market experts believe that this stock will be out of the ‘trade-to-trade’ segment next week. Apart from Jio Financial, the price band has been revised to 10 per cent for nine companies including RailTel and India Pesticides.
Geo Financial
Explain that to keep high volatility in a stock under control, ‘circuit’ system is used through BSE. This is the limit of maximum volatility in a stock in a day. Apart from this, on September 1, Jio Financial’s shares were removed from all BSE indices including the benchmark Sensex. Jio Financial’s shares were listed on the stock exchanges on 21 August due to separation from parent company Reliance Industries.
Company business
Earlier the company’s stock was to be removed from the indices on 24 August. Later it was postponed till 29 August. However, it continued to touch the lower circuit further delaying its delisting from the exchanges.
The stock of the company has gained momentum in the last three trading sessions and has touched the upper circuit limit. Last month, at the company’s annual AGM, Reliance Industries Chairman Mukesh Ambani had announced that Jio Financial would enter the insurance sector and offer life, general and health insurance products. (input language)
