Starting on September 7, Jio Financial Services will no longer be included in the Nifty50 and other indices.

If the price band is not achieved, Jio Financial Services would be removed from a number of indices.

On September 7, the Mukesh Ambani-led Reliance group's demerged non-banking financial services unit, Jio Financial Services Ltd, would be removed from the Nifty50 and other indices, the stock market NSE announced on Tuesday.

Following the demerger of the financial services division from Reliance Industries Limited (RELIANCE), NSE Indices Limited announced in a press release dated July 17, 2023 that Jio Financial Services Limited (JIOFIN or the spun-off entity) would be included in a number of indices as of July 20, 2023 (close of July 19, 2023). JIOFIN demerged and floated at the National Stock Exchange Ltd. (NSE) on August 21, 2023.

The Index Maintenance SubCommittee (Equity) of NSE Indices Ltd. has made the decision to remove JIOFIN from the various indices as listed below as of September 7, 2023 (close of September 6, 2023), in accordance with the index methodology because JIOFIN failed to hit the price band on two consecutive trading days on September 4, 2023 and September 5, 2023 at NSE. It should be emphasised that if JIOFIN reaches the price band on September 6, 2023, the exclusion will not be postponed any further.

Sr. No.     Index Name

•    Nifty 50
•    Nifty 100
•    Nifty 200
•    Nifty 500
•    Nifty50 Equal Weight
•    Nifty100 Equal Weight
•    Nifty500 Multicap 50:25:25
•    Nifty Commodities
•    Nifty Energy
•    Nifty India Manufacturing

Nifty Infrastructure

•     Nifty LargeMidcap 250

•     Nifty Low Volatility 50

•     Nifty Mobility

•     Nifty Oil & Gas

•     Nifty Total Market

•     Nifty100 ESG

•     Nifty100 Liquid 15

•     Nifty100 Low Volatility 30

Shares of Jio Financial Services Ltd (JFSL) got listed on the stock exchanges on August 21 due to its spin-off from parent Reliance Industries.

Reliance Industries Chairman Mukesh Ambani made the announcement at the annual general meeting (AGM) that Jio Financial Services will enter the insurance market and provide life, general, and health insurance products.

He had said that it will use Jio's 450 million mobile phone subscribers as a marketing tool to market its offerings, which would include payment services.