Mumbai: Jio Financial ServicesThe demerged financial services arm of Reliance Industries experienced an unexpectedly high share price of Rs 261.85 during a special trading session dedicated to the stock of its parent company on Thursday.
Reliance shares were trading at Rs 2,580 per share on Thursday, while its previous closing price on Wednesday was Rs 2,841.85.
Market analysts had initially estimated the share price of the merged entity, Reliance Strategic Investments, which will now be known as Jio Financial Services, be between Rs 160 and Rs 190 per share.
Although JFS The stock is set to be included in major indices including India’s benchmark Nifty 50, it will remain inactive till its official listing.
The specific listing date is expected to be announced during the upcoming Annual General Meeting of Reliance.
According to analysts, there is a lot of potential in Jio Financial Services. It is well positioned to take advantage of the growing demand for financial services in India. The company has a strong management team and a good track record.
Since announcing the record date of the demerger on July 8 (which was originally announced in October), Reliance shares have gained 8%.
(with inputs from agencies)
Reliance shares were trading at Rs 2,580 per share on Thursday, while its previous closing price on Wednesday was Rs 2,841.85.
Market analysts had initially estimated the share price of the merged entity, Reliance Strategic Investments, which will now be known as Jio Financial Services, be between Rs 160 and Rs 190 per share.
Although JFS The stock is set to be included in major indices including India’s benchmark Nifty 50, it will remain inactive till its official listing.
The specific listing date is expected to be announced during the upcoming Annual General Meeting of Reliance.
According to analysts, there is a lot of potential in Jio Financial Services. It is well positioned to take advantage of the growing demand for financial services in India. The company has a strong management team and a good track record.
Since announcing the record date of the demerger on July 8 (which was originally announced in October), Reliance shares have gained 8%.
(with inputs from agencies)