Change in the price band of Jio Financial Services stock, increased from 5 to 20 percent.

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.

Let us tell you that on September 1, the stock of Jio Financial was removed from all BSE indices including the benchmark Sensex. At the same time, the shares of Jio Financial were listed on the stock exchanges on 21 August 2023.

Jio Financial's stock was to be delisted from the indices on 24 August, but it was postponed to 29 August. There was a delay in delisting the shares of the company from the exchanges. The reason for this was that the shares of the company remained closed in the lower circuit.

Shares of Jio Financial have gained in the last three trading sessions. It was touching the upper circuit and avoiding the lower circuit. In such a situation, it indicated to move away from the indices.

Reliance Industries' Annual General Meeting (AGM) took place last month. Mukesh Ambani, chairman of Reliance Industries, made many big announcements in this meeting. Mukesh Ambani said that soon Jio Financial will enter the insurance sector as well. Apart from this, he said that it will use Jio to sell its service as well as products for this.