Jio Financial Services Shares Hit Lower Circuit In Debut Trade

Reliance Industries demerged its financial services undertaking into RSIL (Reliance Strategic Investments Ltd), which was renamed as JFSL.

Shares of Jio Financial Services, the demerged financial services unit of Reliance Industries, listed on the bourses on Monday, with the stock falling nearly 5 per cent on the NSE later in the trade.

On the BSE, shares of the company began the trade at Rs 265, up 1.20 per cent against Rs 261.85, the price fixed at a special price discovery session held last month. However, the stock later fell by 3.85 per cent to hit Rs 251.75 -- its lower circuit limit -- against Rs 261.85.

Shares of the company listed at Rs 262 on the NSE but later declined 4.94 per cent to Rs 248.90 -- its lower circuit limit.