Jio Financial Services Ltd (JFSL), the demerged financial services unit of Reliance Industries to be removed from Sensex and all other S&P BSE indices prior to the open of trading on Friday.
Asia Index Private Limited (AIPL) on Thursday announced via Notice No: 20230825-15 that effective prior to the open of trading on Friday, September 01, 2023, Jio Financial Services Ltd (JFSL, Ticker: 543940) will be removed from all the S&P BSE Indices following its listing on Monday, August 21, 2023, due to its spin-off from its parent, Reliance Industries, said in the release.
The index committee noted, JFSL has not hit the lower circuit on Tuesday, August 29, 2023, and Wednesday, August 30, 2023. As announced via Notice No: 20230825-15 that should JFSL hit lower circuit on the 3rd day i.e., Thursday, August 31, 2023 the removal of JFSL from all the S&P BSE Indices will be postponed.
In order to provide certainty to clients, the Index Committee has determined that a 2 PM IST cut-off time will be applied for the lower circuit limit assessment.
Jio Financial Services
Jio Financial Services, the demerged financial services arm of Reliance Industries was listed on the Bombay Stock Exchange on August 21.
Reliance Industries demerged its financial services undertaking into RSIL (Reliance Strategic Investments Ltd), which was renamed as JFSL (Jio Financial Services Ltd). Shareholders got one JFSL share for each Reliance share they held.
on Wednesday, the shares of JFSL, touched its upper circuit limit for the third consecutive day. JFSL jumped by 4.99 per cent to close at Rs 232.70 apiece, its upper circuit limit on the BSE. On the NSE, it climbed 4.99 per cent to hit its upper circuit limit of Rs 231.25 per share.
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