After the closing of the stock market today, there has been a big deal regarding the stock of Jio Financial Services Limited. Let us tell you that the shares of Jio Financial were listed in the market on Monday. It is a demerged non-banking financial services unit from Reliance Group.
The company's shares were trading with a decline for two consecutive days. In such a situation, BSE had decided that it would delist the shares of the company from the exchange on 24 August. Now as per the new update BSE has postponed the delisting from the indices till 29th August. Let us tell you that even today the stock of the company had reached the lower circuit.
AIPL (Asia Index Private Ltd) is aware of the recent lower circuit hit for JFSL. Since the stock of Jio Financial Services Ltd. has hit the lower circuit limit on two consecutive days i.e. Monday, August 21, and Tuesday, August 22. Because of this, the Index Committee has decided to postpone it. According to a BSE circular, JFSL will be delisted from all S&P BSE indices for the next three days.
Now JFSL will be delisted from all S&P BSE indices with effect from the start of trading on August 29, 2023. Asia Indices is a joint venture between BSE and S&P Dow Jones Indices.
Further, as per the notice, if JFSL continues to lower the circuit in the next two days as well, the date of removal will be postponed for three more days. Further, if JFSL does not hit the lower circuit limit on any of the next two days, but hits the lower circuit limit on the third day, the removal of JFSL from all S&P BSE indices will be deferred for the next 3 days. ,
Asia Indices had announced that Jio Financial Services Ltd will be delisted from all S&P BSE indices on August 24 following its listing on Monday due to a demerger from its parent.
On Monday, the scrip was listed at Rs 265 on BSE, up 1.20 percent from Rs 261.85. This was the price decided in a special price discovery session held last month. After this, the company's stock fell 3.85 percent to Rs 251.75. This is the lower circuit limit.