Jio Financial Services Listing: About 635 crore shares of Jio Financial were listed on the exchange. The share price on July 20 was Rs 261.8. Its market cap is around Rs 1.66 lakh crore.
Jio Financial Services Listing: New listing took place in the stock market on Monday (August 21). After the demerger from RIL, the share of Jio Financial Services was listed at Rs 262 on the NSE.
The share is listed on BSE at a price of Rs.265. Please tell that after demerging from RIL, the price on X-date (July 20) was Rs 261.8. Market Guru Anil Singhvi has given accurate opinion for long term and short term investors.
Brokers on Jio Finance:
Market guru Anil Singhvi said that long-term investors in Jio Finance are advised to stay in the stock. Short term investors should keep a stoploss of Rs 250 on the stock.
He said that the net worth of the company is Rs 1.17 lakh crore. Reliance's 6.1% stake in Jio Financial is valued at Rs 1.05 lakh crore. Its book value is Rs 185.
Also Read - Mahindra & Mahindra: This foreign company will invest Rs 12,000 crore in Mahindra Electric
The market guru said that the company has ample capital. Also, there is a possibility of venturing into business on a large scale. The negative is that there is no significant business at the moment.
Jio financial..what after listing?
Share will remain in trade to trade for 10 days
Will be out of all indexes after 3 days
If there is a circuit for 2 days, then the exit will be extended for 3 more days.
Jio Financial will be the second largest NBFC
About 635 crore shares of Jio Financial were listed on the exchange. The share price on July 20 was Rs 261.8. Its market cap is around Rs 1.66 lakh crore. In this context, RIL's company will be the second largest NBFC in the country after Bajaj Finance.
Let us tell you that the market cap of Bajaj Finance is Rs 4.15 lakh crore. The ex date of the demerger of Jio Financial and Reliance Industries was on 20 July.
Jio Financial Services Business:
RIL's financial services company has the license of Broking, AMC, NBFC, Insurance and Mutual Funds. Jio Financial has holding in 6 companies.
These companies include Reliance Industrial Investments and Holdings (RIIHL), Reliance Payment Solutions, Reliance Retail Finance, Jio Payments Bank, Jio Information Aggregator Service and Reliance Retail Insurance Broking Ltd.