From September 7, Jio Financial Services will not be included in NSE indices

6 Sep 2023 , 11:21 AM

The demerged financial services division of Reliance Industries, Jio Financial Services Limited, will no longer be included in the benchmark Nifty 50 and other NSE indices as of September 7.

After being spun out from parent company Reliance Industries on August 21, shares of Jio Financial were offered on stock exchanges.

The Index Maintenance Sub Committee (Equity) of NSE Indices Ltd has decided to exclude JIOFIN from various indices effective from September 7, 2023 (close of September 6, 2023), in accordance with the index methodology, as JIOFIN has not hit price band on two consecutive trading days on September 4 and 5 at NSE.

It continued, ‘It should be noted that the exclusion shall not be postponed further if JIOFIN hits the price band on September 6.’

The company will not participate in the Nifty 50, Nifty 100, Nifty 200, Nifty 500, or Nifty50 Equal Weight, among other indices.

On September 1, the Jio Financial stock was eliminated from all BSE Indices, including the Sensex.

Jio Financial would enter the insurance sector to offer life, general, and health insurance products, Reliance Industries Chairman Mukesh Ambani stated during the Annual General Meeting (AGM) last month.

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