- By Aditya Pratap Singh
- Mon, 05 Feb 2024 03:32 PM (IST)
- Source:JND
Stock Market: The stock market is trading in green on Monday, Meanwhile, the shares of Jio Financial Services (JFS) rose to a record high of over 15% following a media report suggesting the company is the toprunner to buy Paytm's wallet business. LIC stocks touched the 1,000 mark for the first time during the trading hour as well.
Jio Finance Share Today
Shares of Jio Finance jumped 16.25% to touch a new high of ₹295.00 on the BSE. Meanwhile, Paytm shares hit its day lower circuit after it tanked 10% in early trade.
According to a report published by Hindu BusinessLine, Paytm's parent One 97 Communications is in exploratory talks with some investors to sell the wallet business. Jio Financial Services and HDFC Bank are the frontrunners to buy Paytm's wallet business, sources have been quoted as saying.
Shares of Paytm have been hitting a lower circuit for the last three trading days as Paytm Payments Bank (PPBL) was barred from certain operations following the Reserve Bank of India's (RBI) system audit report, which was done by an external auditor.
LIC Shares Today
The share price of Life Insurance Corporation of India rose 7 per cent on Monday to touch the level of Rs 1,011 for the first time. It has again surpassed the IPO price of Rs 949 yet again.
In the last three months, the stock of LIC has increased by more than 55 per cent.
The recent rise pushed, the market capitalisation of LIC above the Rs 6-lakh crore mark. Earlier, in January, LIC overtook the State Bank of India to become the most valuable public sector company.