Key Points
Promoter entity Jamnagar Utilities and Power, a step-down unit of Reliance Industries (RIL), has likely bought about 5 crore shares in Jio Financial Services (JSFL) at Rs 208-211 apiece, according to an ET Now report...
Earlier, domestic fund house Motilal Oswal MF bought 3.72 crore shares in the NBFC in bulk deals on Friday..
The NBFC stock was added to key indices on July 20 for a temporary period, to give passive and active funds holding RIL stock, an opportunity to trade in the demerged entity...
During the AGM, RIL chief Mukesh Ambani said JFSL will enter the insurance segment and will soon offer simple and smart products in life, general, and health through a seamless digital interface, potentially partnering with global players...
Post the demerger, shares of JFSL were credited to Demat accounts of RIL shareholders in a 1:1 ratio, which means that for every RIL share held as of the record date of July 20, shareholders got one share of the NBFC...
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