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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Shares tanked as investors started monetizing the holdings right away.
The shares of Jio Financial Services—the demerged financial business of Mukesh Ambani’s Reliance Industries—hit the lower circuit on bourses in its market debut. The southward movement of shares came as investors started booking profits right away, in the wake of a lack of clarity over the business model, according to two analysts, who asked not to be named.
The company’s shares got listed at Rs 265 apiece on BSE and Rs 262 on the National Stock Exchange. However, within an hour, the shares stopped trading after having hit the lower circuit. By then, the stock had crashed 5% to Rs …
Instead of going after scale like Jio, the Sunil Bharti Mittal-led telecom giant is chasing a smaller but higher-quality customer base to grow its home broadband segment. Will the bet pay off?
While the Rs 9,000 crore promoter investment in Q1 brings a measure of reassurance, investors will still have to wait for Jio and retail to work through their challenges.
