Jio Financial Exclusion From Nifty Postponed To August 29
Curated By: Business Desk
Last Updated: August 22, 2023, 16:32 IST
JFSL will now be removed from all the S&P BSE indices effective prior to the open of trading on Tuesday, August 29. (Representative image)
While there has been no formal confirmation from NSE Indices yet, current methodology for demergers indicate the same.
Jio Financial Services will now be dropped from the Nifty 50 and Sensex effective August 29, instead of August 24 as earlier indicated. This is because the stock hit its circuit limit for two consecutive days, soon after listing.
“The index committee has determined to postpone the removal of JFSL from all the S&P BSE Indices by another three days. JFSL will now be removed from all the S&P BSE indices effective prior to the open of trading on Tuesday, August 29,” said S&P Dow Jones Indices in a communique to clients.
According to a report by Moneycontrol, while there has been no formal confirmation from NSE Indices yet, current methodology for demergers indicate the same.
“In case, during the first 2 days of these 3 days, if the spun off business/ entity hits the price band on both days, then the exclusion date shall be deferred by another three days,” NSE Indices had said in its press release on April 26.
As passive funds adjust their portfolios, the combined outflow will approximately be 145-150 million shares, encompassing both Nifty and Sensex, as per Nuvama Alternative & Quantitative Research.
Curated By: Business Desk
Last Updated: August 22, 2023, 16:32 IST
JFSL will now be removed from all the S&P BSE indices effective prior to the open of trading on Tuesday, August 29. (Representative image)
While there has been no formal confirmation from NSE Indices yet, current methodology for demergers indicate the same.
Jio Financial Services will now be dropped from the Nifty 50 and Sensex effective August 29, instead of August 24 as earlier indicated. This is because the stock hit its circuit limit for two consecutive days, soon after listing.
“The index committee has determined to postpone the removal of JFSL from all the S&P BSE Indices by another three days. JFSL will now be removed from all the S&P BSE indices effective prior to the open of trading on Tuesday, August 29,” said S&P Dow Jones Indices in a communique to clients.
According to a report by Moneycontrol, while there has been no formal confirmation from NSE Indices yet, current methodology for demergers indicate the same.
“In case, during the first 2 days of these 3 days, if the spun off business/ entity hits the price band on both days, then the exclusion date shall be deferred by another three days,” NSE Indices had said in its press release on April 26.
As passive funds adjust their portfolios, the combined outflow will approximately be 145-150 million shares, encompassing both Nifty and Sensex, as per Nuvama Alternative & Quantitative Research.
