Shares of Jio Financial Services Limited (JFSL) hit 5 per cent lower circuit for the fourth session straight on Thursday. JFSL shares were locked in the 5 per cent lower circuit on NSE at Rs 213.45 and Rs 215.90 on BSE.
The non-banking finance corporation’s (NBFC’s) market capitalisation stood at Rs 1.35 lakh crore at this stock price.
Shares of JFSL, the demerged financial services business of Reliance Industries (RIL), have hit a 5 per cent lower circuit for four trading sessions continuously after the stock listed on bourses on Monday.
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The stock listed at Rs 265 per share on the BSE and Rs 262 apiece on the NSE on Monday against the discovered price of Rs 261.85 apiece in a special pre-open session last month.
JioFin is currently the 31st constituent in the Sensex and the 51st in the Nifty50. The stock was supposed to be removed from the Sensex and Nifty indices on August 24, however, the stock exchanges deferred the exclusion on Tuesday after JFSL shares hit a 5 per cent lower circuit limit for two sessions straight.
“JFSL will now be removed from all the S&P BSE Indices effective prior to the open of trading on Tuesday, August 29, 2023,” BSE said in a notice.
The stock exchange also said that if JFSL shares continue to hit lower circuit “on the next two days, the removal date will be deferred by another three days.”
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If JFSL shares again close 5 per cent lower today, BSE and NSE will defer the exclusion of its shares for its indices from another three days, i.e., September 1.