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Change in the price band of Jio Financial Services stock, increased from 5 to 20 percent.
Share Market: Jio Financial Services, the financial arm of Reliance Industries, has been removed from all BSE indices including the benchmark Sensex. BSE has issued a notification for the shares of the company. BSE has reduced the price band of the company's stock from 20 percent to 5 percent. BSE has changed the price bands of shares of many more companies.
The price band of shares of Reliance Industries' financial company Jio Financial Services has been reduced. BSE (Bombay Stock Exchange) has reduced the circuit limit of the company's shares from 20 percent to 5 percent. These limits will be applicable from 4 September 2023. BSE issued a notification regarding this.
After this decision, it will be ensured that the share price of the company does not fluctuate more than the prescribed level in the shares during a session. In such a situation, market experts believe that the stock will move out of the trade-to-trade segment next week.
Apart from Jio Financial (JFSL), the price bands of nine companies including RailTel and India Pesticides have been revised. Their price band has been reduced to 10 percent. To control the volatility in the shares, BSE is using a circuit filter mechanism. In this, any stock is allowed to fluctuate more in a day.
