You have the last day to get Jio Financial shares
New Delhi: Jio Financial Services is going to be demerged from Reliance Industries, the company of Mukesh Ambani, the biggest tycoon of India and Asia. For this, July 20 has been fixed as the record date. This is considered a windfall gain for the investors of Reliance Industries. This is because they will get one share of GFSL for every share of Reliance. This is the reason that for the last few days, there is a lot of fighting going on to buy Reliance shares. On Tuesday also it closed at Rs 2822.40 with a gain of 0.93 per cent. To get JFSL shares, you have to become a Reliance shareholder before the record date of July 20. That is, you have to buy shares by 19 July. Which means you only have one day left. This will benefit more than 36 lakh investors of Reliance.
Isha Shah of Axis Securities said that investors should buy Reliance shares before the record date. This is the cheapest way to get Jio Financial Services shares. This share can be listed at Rs 160 per share. Isha Ambani will be the non-executive director of this company while Hitesh Sethia, an ICICI executive, has been made its CEO and MD. This company will focus on NBFC market and credit market segments. It has plans to enter the insurance, digital payments and asset management verticals.How far will Reliance’s stock go?
Isha Shah of Axis Securities said that investors should buy Reliance shares before the record date. This is the cheapest way to get Jio Financial Services shares. This share can be listed at Rs 160 per share. Isha Ambani will be the non-executive director of this company while Hitesh Sethia, an ICICI executive, has been made its CEO and MD. This company will focus on NBFC market and credit market segments. It has plans to enter the insurance, digital payments and asset management verticals.
How far will Reliance’s stock go?
Domestic brokerage Nuvama has valued JFSL at Rs 1 lakh crore. He says that this demerger will not affect Reliance’s stock much, rather it can go up by three to five percent. NSE and BSE will conduct a special price discovery session for Reliance shares on July 20 from 9 am to 10 am. Reliance’s stock has jumped nine percent in two weeks. Experts say that in the next few days it will cross the all-time high of Rs 2856.15. Nuwama has kept a target price of Rs 3,205 for it. JFSL can be listed before Diwali.