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Jio Financial's share price fell by five percent on the first day of listing
Reliance Industries' company Jio Financial Services (JFS) made its debut in the stock market on Monday which was not very special. The shares of the company fell by five percent on the first day itself. Company officials say that the financial sector will be disclosed in detail in the upcoming annual conference of Reliance Group. Let's know about the complete news.
Jio Financial Services (JFS), a company of the country's largest industrial group Reliance Industries, made its debut in the stock market on Monday, which was not very special. The shares of the company fell by five percent. But the picture of the company's future road map presented by V Kamath of Jio Financial Services has clarified the future intention of the company that it is going to launch all kinds of banking and financial services in India.
Company officials say that the financial sector will be disclosed in detail in the upcoming annual conference of Reliance Group. Reliance Group demerged ZFS and listed it on the market on August 21, 20223. On the first day, the company's shares closed at Rs 251.75, down 3.85 percent, on the BSE and closed at Rs 248.90, down 4.94 percent, on the NSE.
A lower circuit had to be imposed on the share price of the company in both markets. Despite this decline, the market valuation of Jio Financial has gone up to Rs 1,59,943.93 crore on the very first day itself. With this, it has also become the second-largest Non-Banking Financial Company (NBFC) in the country.
