By Malvika Gurung
Investing.com -- The leading stock exchange Bombay Stock Exchange (BSE) has changed the circuit limit set on the demerged financial services undertaking of Reliance Industries (NS:), Jio Financial Services Ltd (NS:) to 20% from the existing 5%.
The revised circuit limit of 20% will be effective on Jio Financial Services’ (JFSL) stock from Monday, September 4, 2023, as per a BSE notification issued on Saturday.
The revision will make sure that the share prices of the demerged financial entity do not fluctuate beyond a prescribed value during an intraday trading session.
Market experts are also of the view that JFSL could likely be excluded from the Trade-To-Trade (T2T) segment in the upcoming week.
The stock was placed to trade under the T2T segment at the time of its debut on Dalal Street on August 21, 2023, which means that Jio Financial Services’ shares can only be bought under the delivery method and shall not be eligible for intraday trading.
The financial services stock was removed from all the S&P BSE indices, including the benchmark index on September 1. It was initially scheduled to be removed from the indices on August 24, however, the exclusion was postponed as the stock was locked in at 5% lower circuits consecutively for days following its listing on the Indian bourses on August 21.
The mega-cap financial stock has been on an upswing for the past four consecutive sessions and has been hitting 5% upper circuits during this period. It was locked in at 5% upper circuit in Friday’s session at Rs 245.15/share.
Jio Financial's Circuit Filter Revised to 20% from 5% Starting Monday - Investing.com India
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