Jio Financial Services Makes Exciting Debut on Stock Market
Today we have exciting news about Jio Financial Services (JFS), which is a part of Reliance Industries. JFS is starting to trade on the stock market today. This is a big step because JFS used to be a part of a bigger company, but now it’s on its own.
The price of a single share of JFS is Rs 261.85. This is more than what experts thought it would be, which is pretty cool. This change is happening so that the people who own shares of Reliance Industries can also be a part of JFS and its growth.
But there’s something interesting about this. After JFS starts trading, it won’t be a part of the Nifty and Sensex groups after August 24. These are special groups that show how well certain companies are doing in the stock market. Some people might sell their JFS shares because of this change.
There’s a rule that says if the price of JFS shares goes up a lot in the first two days, then the date when it’s removed from these special groups might change. But if the price doesn’t go up a lot for two days in a row, then JFS will leave these groups after the third trading day.
This change started on July 20. Back then, the price of one JFS share was decided to be Rs 261.85. This was calculated by looking at the price of the bigger company, Reliance Industries. People who had shares of Reliance Industries got one share of JFS for each share they had.
Something else interesting is that another special group called FTSE Indices won’t consider JFS shares valuable starting from August 21. But there’s another group called MSCI Index that will still count JFS shares.
So, that’s the exciting news about JFS and its journey into the stock market world. It’s a new opportunity for the people who own shares of Reliance Industries to be a part of something new and exciting.