Shares of Jio Financial Services Listed At Rs 262 On NSE And At Rs 265 On BSE, Shares Fall 5% In Trading Debut

by
Shares of Jio Financial Services Listed At Rs 262 On NSE And At Rs 265 On BSE, Shares Fall 5% In Trading Debut

  • Home
  • Business
  • Shares of Jio Financial Services Listed At Rs 262 On NSE And At Rs 265 On BSE, Shares Fall 5% In Trading Debut

The shares by the JFSL made an intraday high of Rs 278.20 on the BSE and Rs 262.05 on NSE soon after the listing.

Notably, the shares price of the JFSL were locked at 5 per cent lower circuit at Rs 251.75 apiece on the BSE.

Mumbai: Jio Financial Services Ltd (JFSL), a subsidiary of Reliance Industries, made debut on the stock exchanges on Monday, listing at Rs 265, close to the discovered price of Rs 261.85. The JFSL started trading at Rs 262 on the NSE, while the price on the BSE stood at Rs 265. The market capitalisation of the NBFC was calculated at Rs 1.66 lakh crore at the time of listing earlier in the day.

Notably, the shares price of the JFSL were locked at 5 per cent lower circuit at Rs 251.75 apiece on the BSE.

The shares by the JFSL made an intraday high of Rs 278.20 on the BSE and Rs 262.05 on NSE soon after the listing. However, shares soon succumbed to selling pressure and the stock was locked at 5 per cent lower circuit at Rs 248.90 apiece on NSE.

In the meantime, the bourse had conducted a special pre-open session for the demerged entity on July 21 in which the discovered price for the stock worked out to be Rs 261.85 and the implied market cap was Rs 1.65 lakh crore.

Currently, JFSL’s M-cap stands at Rs 1,59,943 crore at a share price of Rs 251.75 apiece on the BSE. The NBFC’s M-cap on NSE stands at Rs 1,58,133 crore at the current share price of Rs 248.90 apiece.

It should be noted that the JFSL stock will be in the trade-to-trade segment in the next 10 sessions and the JFSL will operate in the NBFC market and credit market segments and has strategic plans to expand its operations into insurance, digital payment, and asset management verticals.

As the share price of JFSL will be in the Trade-for-Trade segment for the next 10 days, no intraday trading will be allowed in shares. However, the investors can perform only delivery based buying and selling under T2T Group stock.

Billionaire Mukesh Ambani’s Reliance Industries had last month demerged JFS, setting its stock price at a notably higher-than-anticipated Rs 261.85. This valuation by the JFSL, achieved through a special trading session, placed JFS worth around $20 billion.






FOLLOW US ON GOOGLE NEWS

Read original article here

Denial of responsibility! Todays Chronic is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – todayschronic.com. The content will be deleted within 24 hours.

Leave a Comment