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Jio Financial Services Listing Highlights: JFSL hits lower circuit minutes after listing on bourses

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Jio Financial Services Listing Highlights: At the BSE, it began the trade at Rs 265, up 1.20 per cent, against Rs 261.85, the price fixed at a special price discovery session held last month. It later jumped 6.24 per cent to Rs 278.20.

Jio Financial Services Listing Highlights: JFSL hits lower circuit minutes after listing on bourses

Jio Financial Services Listing LIVE UPDATES

Jio Financial Services Listing Highlights: Shares of Jio Financial Services, the demerged financial services unit of Reliance Industries, listed on the bourses on Monday, with the shares rising marginally on BSE.

At the BSE, it began the trade at Rs 265, up 1.20 per cent, against Rs 261.85, the price fixed at a special price discovery session held last month. It later jumped 6.24 per cent to Rs 278.20.

Highlights of the listing of Jio Financial Services Ltd.

Follow updates here:

21 Aug 2023, 4:09 PM (IST)

Jio Financial Services Listing: "JFS listing below street expectation"

“Listing of Jio Financial Services (JFS) was below street expectation. The market was knowing this selling pressure would come from ETF funds after Friday's news of FTSE funds. We believe the JFS would face short-term selling pressure as the street assumes the fair value of share price Rs 150-180 apiece on stake valuations and post listing the stock is trading at a much higher price than its assumed fair value. Based on business interest the long-term outlook for JFS is bullish due to its focused interest in consumer and merchant lending, asset management, insurance, payments and digital broking. It has already announced a 50:50 joint venture entity with BlackRock to enter the mutual fund industry. As of date, short-term euphoria on valuations would stay as a concern before it gets settled near the street fair value. We remain neutral on JSL for the short term.”

21 Aug 2023, 11:21 AM (IST)

Jio Financial Services Listing LIVE UPDATES: Reliance appears to be keeping arm's length transactions from other entities

According to brokerage BofA Securities, by separating financial services from the core business, Reliance appears to be keeping arm's length transactions from other entities, and in theory helping them better to attract strategic or JV partners who are keen only in the financial services arm - like what they did with Reliance Jio or tower InvIT.

21 Aug 2023, 11:05 AM (IST)

Jio Financial Services Listing LIVE UPDATES: Euphoric valuations are here to stay

"We expect such euphoric valuations to hold for a while amid expectation of robust organic growth as well as probable opportunities of inorganic growth available in the financial domain," Incred Equities said in a report.

21 Aug 2023, 10:35 AM (IST)

Jio Financial Services Listing LIVE UPDATES: 6,80,44,363 shares of JFSL traded on NSE

A total of 6,80,44,363 shares of Jio Financial Services Ltd traded on the NSE on Monday.

21 Aug 2023, 10:20 AM (IST)

21 Aug 2023, 10:15 AM (IST)

Jio Financial Services Listing LIVE UPDATES: JFSL's lower circuit on NSE and BSE

The 5 per cent lower circuit of Jio Financial Services Ltd on the BSE is Rs 251.75. The same on the NSE is Rs 248.90.

21 Aug 2023, 10:09 AM (IST)

Jio Financial Services Listing LIVE UPDATES: JFSL hits lower circuit minutes after listing on bourses

Minutes after being listed on bourses, shares of Jio Financial Services Ltd hit a lower circuit.

21 Aug 2023, 9:58 AM (IST)

Jio Financial Services Listing LIVE UPDATES: Stock lists at Rs 262 on NSE

Shares of Jio Financial Services list at Rs 262 per share on the NSE.

21 Aug 2023, 9:50 AM (IST)

Jio Financial Services Listing LIVE UPDATES: Demerger was announced in October last year

Reliance Industries announced last October that it would demerge and list its financial services business, Reliance Strategic Investments, which will be renamed Jio Financial Services (JFS).

21 Aug 2023, 9:50 AM (IST)

Jio Financial Services Listing LIVE UPDATES: JFSL second largest NBFC in India

JFSL is now the second-largest NBFC in India and the 32nd most valued company, bigger than giants like Tata Steel, Coal India, Indian Oil, and SBI Life.

21 Aug 2023, 9:36 AM (IST)

Jio Financial Services Listing LIVE UPDATES: JFSL has huge capital

Zee Business Managing Editor Anil Singhvi said that the company has huge capital which is a good thing for a company like JFSL. However, the negative side of the company is that it has no turnover as of today.

21 Aug 2023, 9:29 AM (IST)

Jio Financial Services Listing LIVE UPDATES: Company's net worth is Rs 1.17 lakh crore

The net worth of Jio Financial Services is around Rs 1.17 lakh crore and out of that shares of Rs 1.05 lakh crore are of Reliance only. After the demerger, the company got a 6.1 per cent share in the Reliance.

21 Aug 2023, 9:24 AM (IST)

Jio Financial Services Listing LIVE UPDATES: JFSL shares to remain in the T2T Segment for 10 days

Jio Financial Services will remain in the Trade-To-Trade Segment for 10 days. Trade to Trade (T2T) is a stock segment where shares are traded only on a delivery basis. This simply means that JFSL shares will not be eligible for intraday trading for the said period.

21 Aug 2023, 9:23 AM (IST)

21 Aug 2023, 9:15 AM (IST)

Jio Financial Services Listing LIVE UPDATES: Long-term investors can hold, says Anil Singhvi

Zee Business Managing Editor Anil Singhvi on Monday said that long-term investors can hold shares of Jio Financial Services Ltd.

21 Aug 2023, 9:12 AM (IST)

Jio Financial Services Listing LIVE UPDATES: Anil Singhvi predicts listing price

Zee Business Managing Editor Anil Singhvi has predicted that the share of Jio Financial Services Ltd can list at around Rs 300.

21 Aug 2023, 9:04 AM (IST)

Jio Financial Services Listing LIVE UPDATES: Anil Singhvi suggests stop loss

Zee Business Managing Editor Anil Singhvi today suggested that short-term investors must put a stop loss at Rs 250 for Jio Financial Services Ltd shares.

21 Aug 2023, 8:59 AM (IST)

Jio Financial Services Listing LIVE UPDATES: Discovered price much above than expectations of analysts

The derived price beat all the analysts' estimates, as they had estimated the share price of the demerged entity between Rs 160 and Rs 190 per share.

21 Aug 2023, 8:56 AM (IST)

Jio Financial Services Listing LIVE UPDATES: JFSL share price

The share price of Jio Financial Services (JFS) was derived at Rs 261.85 on the National Stock Exchange (NSE) after the special pre-open call auction session on July 20.