Jio Financial Services Share Price Could Surge Further
Jio Financial Services shares closed above the listing price for the first time on September 5. The stock has witnessed strong performance over the last few trading sessions and we can expect this trend to continue in the medium term. Jio Financial Services has strong potential and Reliance Industries management has shown remarkable ability to create opportunities in different sectors. Ambani family is having the financial power to change the dynamics in any field in Indian market and Jio Financial Services could offer interesting products in financial services segment in future. This has led to strong ratings for the stock from many market experts despite a lackluster listing for the company.
Jio Financial Services stock could face a decline in today’s trade as NSE Nifty will exclude the stock from indices. The stock doesn’t meet the technical requirements to be included in the indices at the moment but can be added in future. The NSE order informed, “The Index Maintenance Sub Committee (Equity) of NSE Indices Ltd has decided to exclude JIOFIN from various indices effective from September 7, 2023.”
Jio Financial Services has touched 52-week high of Rs 266.95 and low of Rs 202.80. The stock has strong potential as a medium and long term investment. Investors should consider adding this counter to their portfolio on declines.