RIL Settles at Rs 2580, Jio Financials Priced at Rs 261.85 – Special Pre-Open Session

Today, during the special pre-open session, the shares of Reliance Industries Ltd settled at Rs 2,580, which was determined as the opening price for RIL (excluding Jio financials) at 10 am. Reliance Strategic Investments Limited (to be renamed as Jio Financial Services or JFS) saw its share price calculated at Rs 261.85. 

The share price for RIL (excluding Jio financials) at 10 am was arrived at by considering the difference between its previous closing price of Rs 2,841.85 and the discovered price of Rs 2,580 during the pre-open session. The share price for JFS will remain constant at Rs 261.85. 

During the initial 45 minutes of the one-hour trading session, investors had the opportunity to enter, modify, or cancel their orders for Reliance Industries. Following this, there was a 10-minute order matching period immediately after the order collection period. The final matching of orders took place at a single price known as the open price, which is considered the equilibrium price. 

At present, Jio Financial Services (JFS) will hold the position of the 51st constituent in the Nifty index and the 31st constituent in the Sensex.  

Although it will be factored into the daily weight calculations of the indices, its market capitalization and price will remain unchanged since it is not being actively traded live. These values will only be updated once the stock is officially listed and actively traded on the stock exchanges. 

Due to a delayed start of trading in RIL, the computation of the Nifty50 index level was conducted using 49 stocks during the pre-open session. 

The calculated price of Jio Financial will be used daily to determine the Nifty index value until the company’s shares are officially listed on the stock exchanges. After Jio Financial shares are listed, they will be included as the 51st stock in the Nifty 50 index for a period of three days. 

If we check the financials of Reliance Strategic Investments, the demerged entity of Reliance Industries, recorded a consolidated net profit after tax of Rs 331.92 crore for the first quarter, with a total income of Rs 414.13 crore. For the year ended March 31, the total income was reported at Rs 44.84 crore, with a profit of Rs 31.25 crore. On a standalone basis, the net profit for the quarter amounted to Rs 145.47 crore, while the total income was Rs 214.57 crore

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.