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Jio Financial Services: For a spun off entity to be excluded from NSE indices, it must have two consecutive days without any circuit limits or price band, upper or lower.
Jio Financial was listed on August 21 at a 1.18 per cent premium over its discovered price of Rs 261.85 apiece on July 20. BSE has increased the price band for the stock to 20 per cent from 5 per cent earlier
Market analysts believe that the overhang of Kotak’s successor could rule on the stock performance until the Reserve Bank of India (RBI) approves the prospective candidate, who could be an insider.
Ending of the lock-in period does not necessarily mean investors who received shares in the pre-IPO sale will offload their entire holdings. But, whether pre-IPO investors are selling or holding on will be of interest for traders as large blocks of selling tend to weigh down share prices in the near-term.
JFS: No price band hit (upper or lower) on August 31 and September 1 will lead to JFS exclusion on September 4. The stock will come out of trade-to-trade segment from September 4.