BSE, NSE defer removal of Jio Financial from indices by 3 more days after shares hit lower circuit

After the stock hit a lower circuit limit for two days in a row following its listing, stock exchanges on Tuesday postponed Jio Financial Services Limited's (JFSL) removal from their key indices by three additional days. Jio Financial Services Limited (JFSL) stock continued its downward rally for the second straight session today. 

In a notice, BSE stated, “Asia Index Private Limited (AIPL) recently announced that effective prior to the open of trading on Thursday, August 24, 2023, Jio Financial Services Ltd will be removed from all the S&P BSE Indices following its listing on Monday, August 21, 2023, due to its spin-off from its parent, Reliance Industries.”

“Since the stock has hit lower circuit limit for 2 consecutive days i.e., Monday, August 21, 2023, and Tuesday, August 22, 2023, the Index Committee has determined to postpone the removal of JFSL from all the S&P BSE Indices by another 3 days,” the stock exchange added.

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Source: Media Reports