Leading stock exchange BSE has revised the circuit limit of Jio Financial Services, the demerged non-banking financial services unit of Mukesh Ambani-led Reliance group, to 20 per cent from the existing 5 per cent.
The new limits will be effective from Monday, September 4, according to a notification issued by BSE.
The move would ensure stock prices do not fluctuate beyond a prescribed level during a session.
Further, market experts believe that the stock will be out of the trade-to-trade segment next week.
Apart from Jio Financial, the price band for nine companies, including RailTel and India Pesticides, has been revised to 10 per cent.
A circuit filter mechanism is used by BSE to keep in check excessive volatility in a scrip. It is the maximum fluctuation that is allowed in a stock in a day.
Additionally, the stock of Jio Financial was removed from all the BSE Indices, including the benchmark Sensex, on September 1.
Shares of Jio Financial got listed on the stock exchanges on
| Subscribe To Our Free Newsletter |
