Shriram Finance Ltd was included in Nifty, as it had highest six-month average free-float market capitalisation within eligible universe as a replacement to UPL Ltd, NSE said adding that the changes will become effective from March 28, at close of March 27, 2024.
Jio Financial Services Ltd (JFS) may see $89 million passive inflows on its inclusion in Nifty Next 50. PFC is seen attracting $48 million inflows, Adani Power $45 million, REC $45 million and IRFC $23 million inflows.
JFS shares climbed 14.50 per cent to hit a record high of Rs 347 on BSE. The stock later traded at Rs 330.70, up 9.12 per cent. At this price, JFS was valued at Rs 2,10,325.47 crore against its previous day's market value of Rs 1,92,536.28 crore.
Shares of Mukesh Ambani s Jio Financial Services rallied 14.5% to a fresh peak of Rs 347, crossing the Rs 2 lakh crore market cap mark. Jio may acquire Paytm wallet business. Jio Payments Bank operates with digital savings accounts, bill payments, and debit cards. Jio launched Jio Voice box, implemented QR codes, and conducted sandbox for loans.