Last Updated: February 29, 2024, 15:13 IST
Jio Financial Services to be included in Nifty Next 50
Jio Financial is among the many 5 names, together with REC, PFC, IRFC and Adani Power, that might be included within the Nifty Next 50 index.
Jio Financial Services (JFSL) shares rose 4.4 per cent to Rs 322 in Thursday commerce on BSE amid inclusion within the Nifty Next 50 index. Jio Financial Services has been included within the Nifty Next 50 index as a part of the semi-annual index rejig carried out by the National Stock Exchange.
The changes on the index will happen on March 28.
Jio Financial is among the many 5 names, together with REC, PFC, IRFC and Adani Power, that might be included within the Nifty Next 50 index.
NSE in its press launch additionally mentioned that Adani Wilmar, Muthoot Finance, PI Industries, Procter and Gamble Health and Hygiene Care will exit from Nifty Next 50.
According to a report by home brokerage Nuvama Institutional Equities, the inclusion of Jio Financial Services would result in inflows of round $89 million. The different inclusions will result in inflows of round $161 million whereas the exclusions will result in outflows of $142 million, it mentioned.
On February 23, Jio Financial Services noticed its market capitalisation exceed Rs 2 lakh crore for the primary time, pushed by a 35 per cent surge in its share value this yr.
In January 2024, Jio Financial Services and Blackrock Financial Management filed paperwork with the Securities and Exchange Board of India (Sebi) to launch a mutual fund enterprise in India.
In its December quarter earnings, Jio Financial reported a web revenue of Rs 293 crore and a web curiosity revenue of Rs 269 crore. Its complete curiosity revenue was Rs 414 crore and its complete income Rs 413 crore.
