Jio Financial Services share price was locked at 5% lower circuit for the second consecutive session on Tuesday.

Jio Financial Services is a company that operates in the financial services sector. The share price being “locked at 5% lower circuit”

Jio financial services

Jio Financial Services is a company that operates in the financial services sector. The share price being “locked at 5% lower circuit” means that there were certain restrictions placed on trading the shares. In this case, the stock price could not be traded at a value higher than 5% below the previous closing price. On Tuesday, Jio Financial Services shares opened at ₹239.20 apiece, which was 5% lower than the previous closing price of ₹251.75 apiece on the BSE (Bombay Stock Exchange). This means that the share price experienced a decline of 5% from the previous trading session. It’s worth noting that circuit limits are imposed to prevent excessive volatility in stock prices. They act as a safeguard and provide stability to the market during times of high uncertainty or speculative trading.

Investors who are looking to book profits after the initial listing. It is not uncommon to see such a trend in the stock market, as investors often take advantage of the price volatility to make quick gains. However, it is important to note that the removal of JFSL shares from all indices after three days of listing does not necessarily indicate poor performance. In fact, it is a common practice for newly listed stocks to be excluded from indices initially, as they need time to establish a track record and demonstrate consistent performance. The “Trade-for-Trade” segment, in which JFSL shares will be traded for the next 10 days, means that only delivery-based buying and selling will be allowed. This is a precautionary measure taken by the exchange to ensure fair trading and prevent any speculative activity during the initial days of listing. While the current weakness in JFSL shares may be a cause for concern for some investors, it is important to remember that the stock market is highly dynamic and subject to various factors that can influence prices. It is always advisable to conduct thorough research and seek professional advice before making any investment decisions. 

Vedanta Shares in the Spotlight! Promoter Entity Set to Sell 4.3% Stake

vedanta ltd

The latest news about Vedanta Ltd. It seems that Twin Star Holdings, the chairman Anil Agarwal-owned promoter entity, will be selling a 4.3% stake in the metal and mining firm for approximately $500 million. The proceeds from this stake sale will be utilized to repay the debt of Vedanta Resources, the parent company. The shares are being offered at Rs 258.5 per share, which is a 5% discount from Wednesday’s closing price of Rs 272 apiec.

According to the June shareholding data, the promoters of Vedanta Ltd owned approximately 68.11% of the company. During the earnings for the quarter ended June 2023, Vedanta reported a net debt of around Rs 59,200 crore. The net debt-to-EBITDA ratio increased to 1.88 times in the June quarter compared to 1.28 times in the March quarter. Good news! In April, Vedanta Resources Limited, the parent company of Vedanta, announced that it has successfully paid off all its maturing loans and bonds due in April 2023. This achievement has led to a reduction of their gross debt by an additional $1 billion. It’s great to see the company taking steps to strengthen its financial position.

 Vedanta has made impressive progress in reducing its debt. Since February 2022, they have successfully decreased their debt by $3 billion, which puts them at 75% of their committed reduction goal in just 14 months. It’s a significant achievement, and it shows their dedication to accelerating deleveraging

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