Jio Financial Services' exclusion from stock indices postponed; check revised date
Jio Financial Services share price: The stock was earlier slated to get excluded from the indices on August 24; however, since the scrip hit the lower circuit for two consecutive sessions, the Index Committee has determined to postpone the removal of JFSL from all the S&P BSE Indices by another three days.
Jio Financial Services share price: Jio Financial Services (JFS) shares, which were listed on bourses on Monday (August 21), will now be removed from all the S&P BSE Indices effective prior to the opening of trading on Tuesday, August 29, 2023, according to a release by Asia Index (AIPL).
The stock of the demerged financial services arm of the oil-to-telecom conglomerate Reliance Industries (RIL) made a flat debut on the stock exchanges (BSE, NSE) on Monday. It listed at Rs 262 on the NSE and Rs 265 on the BSE against its discovered price of Rs 261.85. The domestic stock exchanges, BSE and NSE, held a one-hour special 'pre-open' session on July 20 for RIL to discover the price of its demerged entity.
The stock was earlier slated to get excluded from the indices on August 24; however, since the scrip hit the lower circuit for two consecutive sessions, the Index Committee has determined to postpone the removal of JFSL from all the S&P BSE Indices by another three days.
"JFSL will now be removed from all the S&P BSE Indices effective prior to the opening of trading on Tuesday, August 29, 2023. Should JFSL continue to hit a lower circuit in the next 2 days, the removal date will be deferred by another 3 days," the press release added.
Additionally, should JFSL not hit the lower circuit limit on either of the next two days but hits the lower circuit limit on the third day, the removal of JFSL from all the S&P BSE Indices will be deferred by another 3 days. Any postponement of removal will be communicated as soon as possible; any changes to this approach would be announced via the standard channels, the press release added.
On Tuesday, the JFS stock remained locked in its 5 per cent lower circuit band for the second consecutive day.
Below is the list of affected indices.
Source: Press release
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