On September 1, 2023, BSE, the Bombay Stock Exchange, announced revisions to the price bands for ten stocks, including Jio Financial Services, to better manage stock market volatility and protect investor interests.
Jio Financial Services (JFS)
The price band for JFS was extended from 5 percent to 20 percent. It's worth noting that JFS was recently removed from BSE's indices, including the benchmark 30-pack Sensex. The removal, initially scheduled for August 23, was delayed due to the stock remaining locked in the lower circuit.
Despite its removal, JFS is planning to enter the insurance sector, offering life, general, and health insurance products in potential partnership with global players. Additionally, JFS is venturing into the asset management industry in collaboration with Blackrock, with an initial investment of $300 million.
Other Stocks
The price bands for several other stocks were also adjusted. Shri Venkatesh Refineries, RailTel Corporation of India, India Pesticides, SRG Securities Finance, Dolphin Offshore Enterprises, and Super Fine Knitters now have a 10 percent price band. On the other hand, Rishabh Digha Steel & Allied Products, Vertex Securities, and RattanIndia Power saw their price bands reduced to 5 percent.
These changes in price bands are part of BSE's efforts to maintain market integrity and prevent extreme fluctuations in stock prices.
Jio Financial Services (JFS)
The price band for JFS was extended from 5 percent to 20 percent. It's worth noting that JFS was recently removed from BSE's indices, including the benchmark 30-pack Sensex. The removal, initially scheduled for August 23, was delayed due to the stock remaining locked in the lower circuit.
Despite its removal, JFS is planning to enter the insurance sector, offering life, general, and health insurance products in potential partnership with global players. Additionally, JFS is venturing into the asset management industry in collaboration with Blackrock, with an initial investment of $300 million.
Other Stocks
The price bands for several other stocks were also adjusted. Shri Venkatesh Refineries, RailTel Corporation of India, India Pesticides, SRG Securities Finance, Dolphin Offshore Enterprises, and Super Fine Knitters now have a 10 percent price band. On the other hand, Rishabh Digha Steel & Allied Products, Vertex Securities, and RattanIndia Power saw their price bands reduced to 5 percent.
These changes in price bands are part of BSE's efforts to maintain market integrity and prevent extreme fluctuations in stock prices.
