Jio Financial Services: On a standalone basis, net profit for the quarter came in at Rs 145.47 crore and total income at Rs 214.57 crore. 
Special 
Jio Financial Services: On a standalone basis, net profit for the quarter came in at Rs 145.47 crore and total income at Rs 214.57 crore. Reliance Strategic Investments Limited (to be renamed as Jio Financial Services or JFS) has come out with its June quarter results. The demerged entity of Reliance Industries said its consolidated net profit after tax for the first quarter stood at Rs 331.92 crore on a total income of Rs 414.13 crore. Total income for the year-ended March 31 stood at Rs 44.84 crore and profit at Rs 31.25 crore.
On a standalone basis, net profit for the quarter came in at Rs 145.47 crore and total income at Rs 214.57 crore.
On Thursday, the finanical business will get demerged from Reliace Industries. Shareholders of Reliance Industries, who are holding RIL shares today, will be allotted allotted JFS shares in the 1:1 ratio.
There would be a special pre-open session from 9 am to 10 am, during which RIL shareholders can only place, modify or cancel the orders. Jio Financial Services would also be added to Nifty (51 stocks to trade on index) at a constant price.
This constant price would be derived from the difference between Reliance Industries (the demerged company) closing price of Rs 2,853 on Wednesday and the price derived during special pre-open session (SPOS) today. For example, if the stock settled at Rs 2,703 in the special pre-open session, the value for JFS would be Rs 150.
"This derived price of Jio Financial will be considered on a daily basis for Nifty index value computation until it gets listed on the bourses. Once Jio Financial shares get listed on exchanges, the stock will remain as the 51st stock in Nifty 50 index for three day. This will help volatility to settle in and let investors adjust their portfolios," Devarsh Vakil, Deputy Head of Retail Research at HDFC Securities
The newly listed symbol would be a part of the index for a temporary period. As per NSE Indices methodology, the new symbol will be removed from the index after end of day (EOD) on third day of its listing.
The demerged entity of Reliance Industries said its consolidated net profit after tax for the first quarter stood at Rs 331.92 crore on a total income of Rs 414.13 crore.
Reliance Strategic Investments Limited (to be renamed as Jio Financial Services or JFS) has come out with its June quarter results. The demerged entity of Reliance Industries said its consolidated net profit after tax for the first quarter stood at Rs 331.92 crore on a total income of Rs 414.13 crore. Total income for the year-ended March 31 stood at Rs 44.84 crore and profit at Rs 31.25 crore.
On a standalone basis, net profit for the quarter came in at Rs 145.47 crore and total income at Rs 214.57 crore.
On Thursday, the finanical business will get demerged from Reliace Industries. Shareholders of Reliance Industries, who are holding RIL shares today, will be allotted allotted JFS shares in the 1:1 ratio.
There would be a special pre-open session from 9 am to 10 am, during which RIL shareholders can only place, modify or cancel the orders. Jio Financial Services would also be added to Nifty (51 stocks to trade on index) at a constant price.
This constant price would be derived from the difference between Reliance Industries (the demerged company) closing price of Rs 2,853 on Wednesday and the price derived during special pre-open session (SPOS) today. For example, if the stock settled at Rs 2,703 in the special pre-open session, the value for JFS would be Rs 150.
"This derived price of Jio Financial will be considered on a daily basis for Nifty index value computation until it gets listed on the bourses. Once Jio Financial shares get listed on exchanges, the stock will remain as the 51st stock in Nifty 50 index for three day. This will help volatility to settle in and let investors adjust their portfolios," Devarsh Vakil, Deputy Head of Retail Research at HDFC Securities
The newly listed symbol would be a part of the index for a temporary period. As per NSE Indices methodology, the new symbol will be removed from the index after end of day (EOD) on third day of its listing.
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