Jio Financial Services (JFSL) shares rose 4.4 per cent to Rs 322 in Thursday trade on BSE amid inclusion in the Nifty Next 50 index. Jio Financial Services has been included in the Nifty Next 50 index as part of the semi-annual index rejig carried out by the National Stock Exchange.
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.
NSE in its press release also said that Adani Wilmar, Muthoot Finance, PI Industries, Procter and Gamble Health and Hygiene Care will exit from Nifty Next 50.
According to a report by domestic brokerage Nuvama Institutional Equities, the inclusion of Jio Financial Services would lead to inflows of around $89 million. The other inclusions will lead to inflows of around $161 million while the exclusions will lead to outflows of $142 million, it said.
On February 23, Jio Financial Services saw its market capitalisation exceed Rs 2 lakh crore for the first time, driven by a 35 per cent surge in its share price this year.
In January 2024, Jio Financial Services and Blackrock Financial Management filed documents with the Securities and Exchange Board of India (Sebi) to launch a mutual fund business in India.
In its December quarter earnings, Jio Financial reported a net profit of Rs 293 crore and a net interest income of Rs 269 crore. Its total interest income was Rs 414 crore and its total revenue Rs 413 crore.
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