Early trade on Wednesday saw a significant increase in Jio Financial Services Limited (JFS) shares as the market maintained its strong momentum from the previous session.
JFS stock increased by 4.99 percent to Rs 231.25 a share on the National Stock Exchange (NSE), while the price of the company's stock on the Bombay Stock Exchange (BSE) was Rs 232.70.
It should be mentioned that JFS shares rose yesterday, reaching a high of Rs 221.70, on news of a block sale in which 0.8% of the company's equity was traded.
According to a report from ET Now, promoter company Jamnagar Utilities and Power most likely purchased 5 crore shares of JFS.
The article added that numerous block trades had happened on the NSE, citing brokers.
The block deals appear to have sparked new hope for JFS shares, as they have once again risen today.
After JFS shares touched lower circuits for several sessions, stock exchanges postponed removing them from circulation. Currently, JFS shares will be removed from the important indices on September 1 before market hours.
