Unlocking the Resilience: Jio Financial Services Bounces Back After Five Days of Lower Circuit

Jio Financial Services
Jio Financial Services

Shares of Jio Financial Services Limited (JFSL), the separated financial entity of Reliance Industries Limited (RIL), have at last rebounded following a five-day stint where they were consistently locked in a 5 percent lower circuit.

After the opening of today’s market, JFSL shares initially continued in the 5 percent lower circuit but have now broken this trend. As of 10:30 am, Jio Financial Services shares were trading at Rs 212.40 each on the National Stock Exchange (NSE), marking a 0.49 percent decrease.

On the Bombay Stock Exchange (BSE), however, the company’s shares were down 2.73 percent, priced at Rs 210 each.

The fact that these shares have managed to rise above the lower circuit is a promising development and could signify a much-needed turnaround for the company’s stock.

It is worth noting that Jio Financial Services shares are likely to be removed from key indices before the market opens for trading on August 29. This removal was previously postponed due to the shares continuously hitting the lower circuit for two consecutive trading sessions.

In a dedicated session on July 20, JFS was valued at Rs 261.85 per share, surpassing broker expectations.

Reliance Industries’ annual report highlights JFS’s potential to generate value for shareholders.

Notably, JFS has partnered with BlackRock for Indian asset management services.

JFS aims to establish itself as a comprehensive financial player, as stated by Chairman KV Kamath during the listing.

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