jio financial circuit filter changed to 20 percent from 5 percent effective from 4th september 2023 all details here


New Delhi: The country’s leading index Bombay Stock Exchange ie BSE has changed the circuit limit of Mukesh Ambani’s new company Jio Financial Services. BSE has raised the circuit limit for shares of Jio Financial Services, the demerged non-banking financial services arm of Mukesh Ambani-led Reliance Group, to 20 per cent from 5 per cent. According to a notification issued by BSE, the new increased circuit limit will be applicable from Monday i.e. September 4, 2023. This step will ensure that the share price of the company does not fluctuate beyond a certain limit in a single session.

Apart from this, market experts believe that this stock will be out of ‘trade-to-trade’ segment next week. The price band has been revised to 10 per cent for nine companies, including RailTel and India Pesticides, apart from Jio Financial. The ‘circuit’ system is used by the BSE to contain excessive volatility in a stock. This is the range of maximum volatility in a stock in a day.

Also, on September 1, Jio Financial’s shares were delisted from all BSE indices, including the benchmark Sensex. Jio Financial’s shares were listed on the stock exchanges on August 21 due to its demerger from parent company Reliance Industries.

The company’s stock was earlier to be delisted from the indices on August 24. It was later adjourned till August 29. However, it continued to touch the lower circuit further delaying its delisting from the exchanges. The company’s stock has gained in the last three trading sessions and has touched the upper circuit limit.

Last month, at the company’s annual general meeting, Reliance Industries Chairman Mukesh Ambani announced that Jio Financial would enter the insurance sector and offer life, general and health insurance products.

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