Jio Financial Services Hits Lower Circuit For Fourth Day, Deferring Index Removal

Shares of Jio Financial Services Ltd. hit a 5% lower circuit for the fourth consecutive day on Thursday.

There were no buyers for the stock and over 16.04 crore shares were pending for sale, according to NSE order book data on the fourth day of trade as of 9:21 a.m.

The BSE had announced that the stock would be removed from all S&P BSE indices with effect from Aug. 29 after JFS hit the lower circuit for the first two days. However, since it has continued to hit the lower circuit for another two straight days, the removal date will be deferred by another three days.

In pre-market, about 20.4 lakh shares changed hands in a large trade at Rs 213 apiece, according to Bloomberg data.

JFS was the largest contributor to the decline in market capitalisation of all the Reliance Industries Ltd. group stocks. The total market value of Jio Financial Services fell by Rs 7,115.68 crore to Rs 1.36 lakh crore on Thursday, taking investor losses to over Rs 30,000 crore since listing.

Shares of Jio Financial Services were trading 5% lower at Rs 213.45 apiece as of 9:21 a.m. compared with an unchanged benchmark NSE Nifty 50.