Jio Financial Services Limited, the demerged financial services unit of Reliance Industries, will be excluded from various indices of NSE, including the benchmark Nifty 50, from September 7.
Shares of Jio Financial got listed on the stock exchanges on August 21, after its spin-off from parent Reliance Industries.
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, 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), as per a statement by NSE Indices Ltd on Tuesday.
“It may be noted that if JIOFIN hits the price band on September 6, the exclusion shall not be deferred further,” it added.
Apart from Nifty 50, the company will be excluded from Nifty 100, Nifty 200, Nifty 500, Nifty50 Equal Weight, among others.
NSE Indices had in July announced inclusion of Jio Financial Service

Four listed real estate investment trusts have joined hands to form an industry body that will advocate the interests of businesses as well as investors.
The Indian REITs Association, a non-profit group formed under the guidance of the Securities and Exchange Board of India (Sebi) and the Ministry of Finance, will also work on ways to enable further growth of Real Estate Investment Trusts (REITs).
Brookfield India Real Estate Trust, Embassy Office Parks REIT, Mindspace Business Parks REIT, and Nexus Select Trust are the founding members of the Indian REITs Association (IRA).
The journey of REITs in India commenced with the introduction of regulatory guidelines in 2014 and culminated in the public launch of REITs in 2019, with Embassy REIT’s listing.
Following this, two more REITs were listed on the Indian exchanges — Mindspace Business Parks REIT in 2020 and Brookfield India Real Estate Trust, in 2021. In May 2023, India’s first retail REIT, Nexus Select Trust, was listed.
The ..

Markets regulator Sebi will introduce one-hour trade settlements by the end of this fiscal, in the run up to making such processes instantaneous, a top official said on Tuesday.
Amid concerns raised by certain foreign portfolio investors on the shortening of the settlement cycles citing forex-related worries, the official made it clear that faster settlements are optional and investors can opt out.
Securities and Exchange Board of India (Sebi) has adopted a roadmap towards realising its aim of making trade settlements instantaneous, the official told reporters.
“From one day to one hour to instantaneous is the roadmap,” the official said, adding one hour settlements are much quicker to implement than instantaneous.
The official said technology for one hour trade settlements already exists and the regulator is confident about the same, while the instantaneous settlements need more technology development.
At present, Sebi is thinking of rolling out the one hour trade settlement for

Shares of Cyient and its subsidiary Cyient DLM hit their respective all-time highs on Tuesday as they rallied up to 19 per cent on the BSE in the intraday trade