Jio Financial shares hit lower circuit for 2nd straight day, m-cap falls to ₹1.51 lakh cr

SHARES of Jio Financial Services (JFS) plunged 5% to hit the lower circuit for the second consecutive day, eroding its market capitalisation to ₹1.51 lakh crore from ₹1.70 lakh crore on Monday.

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Even as the share fell back-to-back on Monday and Tuesday, the removal of JFS from all key indices of the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) was deferred. The stock declined 5% to ₹239.20 apiece on the BSE and ₹236.45 apiece on the NSE on Tuesday.

Since the stock has hit a lower circuit limit for two consecutive days, the index committee has determined to postpone removal of JFS from all S&P BSE indices by another three days, Asia Index Private Limited, a 50-50 partnership between S&P Dow Jones Indices and BSE, said in a notice to BSE on Tuesday.