LIC picks up stake in JFSL
LIC's shares are showing an increase of more than 1% today. LIC's share had closed at Rs 663.25 per share, up by Rs 11.10 or 1.70% on Tuesday
Life Insurance Corporation of India (LIC) has acquired 6.66% stake in Jio Financial Services. LIC obtained this stake through the demerger process. The company, Jio Financial Services, which got demerged from Reliance Industries, was recently listed on the BSE and NSE stock exchanges.
LIC informed the market regulator SEBI about this matter. The official letter regarding this has also been released today. According to this letter, Life Insurance Corporation of India has taken a stake in Jio Financial Services.
What’s the current situation of Jio Financial’s shares?
Jio Financial Services has been listed in the market. Since its listing yesterday, for the second day in a row, its shares have hit a lower circuit of 5%. On NSE, JFSL’s share closed at Rs 236.45 with a decline of Rs 12.45 or 5%, while on BSE, it closed at Rs 239.20 per share with a decline of Rs 12.55 or 4.99%.
Action in LIC Shares
LIC’s shares are showing an increase of more than 1% today. LIC’s share had closed at Rs 663.25 per share, up by Rs 11.10 or 1.70% on Tuesday
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