Shares of Jio Financial Services Ltd (JFSL), the demerged monetary companies unit of Reliance Industries, on Wednesday touched its upper circuit limit for the third consecutive day. Jio Financial Services jumped by 4.99 per cent to shut 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. The firm commanded a market valuation of Rs 1,47,840.92 crore on the BSE.
In quantity phrases, 72.41 lakh shares had been traded on the BSE whereas 2.14 crore shares had been traded on the NSE. The 30-share BSE Sensex and Nifty closed on a flat be aware at 65,087.25 factors and 19,347.45 factors, respectively, on Wednesday.
Jio Financial Services to enter insurance coverage section
During the Annual General Meeting (AGM) on Monday, Reliance Industries Chairman Mukesh Ambani introduced that Jio Financial Services will enter the insurance coverage section to supply life, normal and medical insurance merchandise.
It will leverage the 450 million cell phone subscribers’ base of the telecom arm, Jio to promote its merchandise, together with cost companies, he had mentioned. Also, JFSL has introduced a three way partnership with BlackRock for mutual funds enterprise.
Last week, Motilal Oswal Mutual Fund acquired 3.72 crore shares of Jio Financial Services for Rs 754 crore by way of an open market transaction.
(With PTI inputs)
