The adjustments on the index will take place on March 28.
Jio Financial is among the five names, along with REC, PFC, IRFC and Adani Power, that will be included in the Nifty Next 50 index.
Brokerage firm Nuvama Alternative and Quantitative Research expects potential inflows worth $89 million, while IIFL Alternative Research is anticipating potential inflows to the tune of $67 million.
Jio Financial Services will also be in focus on Thursday as it is likely to see outflows to the tune of $81 million, according to Nuvama, as part of the MSCI index adjustments, where its weightage has seen a reduction.
Shares have risen 25% over the last one month. The stock was in the news after reports emerged that it is in talks to acquire Paytm’s Payments Bank. However, it categorically denied such developments.
Jio Financial Services made its stock market debut in August last year with a market capitalisation of over ₹1.5 lakh crore. Since then, the stock has crossed the ₹2 lakh crore market capitalisation mark in today’s session.
Shares of Jio Financial Services are trading 2% higher currently at ₹317.60.
First Published: Feb 29, 2024 9:18 AM IST
Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
