Jio Financial Services Listed Today; Check Details

Something to look forward to in the markets today is the listing of Jio Financial Services, demerged from Reliance industries. Its Rs. 265 on the BSE and Rs. 262 on the NSE, slightly higher than its discovered price. At the opening, the values were at a high of 278 and at a low of 253 in the first five minutes But later, the shares have fallen to a 5% low at Rs.248.9at NSE.

More for Jio Financial Services Ltd., the price stands at 249.10, still at a 5% low. Market analysts are of the view that the share is expected to fall to the level of 180 apiece. Some opinions are to hold the share with stop losses at Rs. 232 apiece levels. The JFSL, former Reliance Strategic Investment Limited., was admitted today in the T group securities and will stay in the Trade for Trade segment for the next 10 days, no intraday trading would be permitted.

The down drive of the share has been accounted to it being sold much higher than its fair value. The de-merger decision would allow the financial services to keep a different track from the parent company. It could also buy in different investors and stakeholders and branch out into various segments such as payments, digital broking and insurance.