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Jio Financial Services Ltd (JFSL) stock fell 5% on its first day of listing. What should investors do?
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| Jio Financial Services Ltd (JFSL) |
After separating from Reliance Industries Limited (RIL), the JFSL shares were listed in NSE and BSE on Monday. Although, the listing of Jio Financial Services Ltd. (JFSL) in the Indian stock market has not been a big bang.
The Opening Day Performance
Jio Financial Services Ltd.'s (JFSL) share price opened at Rs. 265 on BSE and 262 Rs. on NSE, equivalent to its market value of Rs. 261.85. However, the troubles of JFSL shareholders did not end there. Jio shares hit an intraday low of 248.90 on NSE and 251.75 on BSE - hitting a 5% lower circuit on both exchanges.
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Market Expert's Insights
According to share market experts, the fair value of Jio Financial Services Ltd. (JFSL), is around Rs. 180. This means that the JFSL share price may fall because the JFSL share is still trading much above its fair price.
According to market experts, JFSL's share market cap will be 1.10 lakh crore to 1.15 lakh crore on the basis of fair value.
Strategy For Shareholders
Shareholders of JFSL should book profit once and when it comes back to around 180 then enter again in this stock.
The market expected that the stock would first touch the 330-340 level and then profit booking would come. But index funds got the better of institutional investors and decided to book profits.
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Trade-for-Trade Segment Inclusion
Shares Jio Financial Services Ltd. (JFSL) have been included in the list of securities of T group for trading on the exchanges. Jio Financial Services Ltd's share price will be in the Trade-for-Trade segment for 10 trading days.
Jio Financial Services Ltd was formerly known as Reliance strategic investments Ltd.
