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Shares of Mukesh Ambani’s company- Jio Financial Services touched the upper circuit of 5% on Thursday. On the fourth trading day of the week, shares on the BSE index traded at Rs. 244.30 was reached. At the same time, Jio Financial shares touched an intra-day high of Rs 242.80 on the NSE.
Let us tell you that the shares of Jio Financial Services were listed on August 21 after the de-merger. The price on the day of listing is Rs. Shares hit a sustained lower circuit after moving up to 278.20. On August 25, the share price fell to the level of Rs 205.15. However, now once again recovery has been seen in stocks.
Impact of deal news: Let us tell you that on August 25, Motilal Oswal Mutual Fund bought 3.72 crore shares of Jio Financial Services or 0.6% stake in the company. The total value of this transaction is Rs 754 crore. Jamnagar Utilities and Power, a unit of Reliance’s promoter group, has reportedly bought around 5 crore shares of Jio Financial Services. These shares were bought at a price of Rs 208-211.
S&P from BSE: Shares of Jio Financial Services will rise from S&P from tomorrow, predicts Nuwama. BSE Sensex There is a possibility of exclusion. It is not expected to have much impact on the stock.
Will enter into insurance business: Days passed Reliance Industries At the annual general meeting of Jio Financial Services, Mukesh Ambani said that soon Jio Financial Services will enter the insurance business. He said the company’s products will not only compete with existing players in the industry, but will also use blockchain-based platforms and features such as CBDC. He said that like Jio and retail, Jio Financial Services will also provide the best services to customers.