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
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