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Jio Financial Share Price: Reliance Group’s newly listed company Jio Financial Services Limited (JFSL) will be delisted from all indices including the benchmark Sensex of the stock market BSE from September 1. BSE said in a notification on Thursday that Jio Financial will be delinked from all BSE indices before the start of trading on September 1.
JFSL, a financial services provider, was listed on NSE along with BSE on 21 August. It was made part of the indices to provide a kind of certainty in its share price. It was earlier scheduled to be delinked from the indices on August 24 itself but continued to touch the lower circuit in the first few trading sessions after listing. In such a scenario, the stock market postponed its disengagement from the indices till August 29.
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Shares of Jio Financial, which was spun off from Reliance Industries and listed as a separate company, did not come in the lower circuit on August 29 and August 30. Even on Thursday, the shares of the company managed to touch the upper circuit limit of five percent. Considering the stability of the company’s shares, the index committee of BSE has decided to remove it from the index from Friday morning.
Reliance Group chief Mukesh Ambani said at the AGM last Monday that Jio Financial will enter the insurance sector in the future, which will include life insurance as well as general insurance and health insurance products.