What's fuelling sell-off in JFSL shares?

V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, says the volatility in JFSL was expected since institutional selling was on the cards and interested buying was also expected. “The volatility seen in the stock after listing justifies the decision to move the stock to the Trade to Trade segment. Investors who are optimistic about the stock can buy from the market for delivery without any restrictions," he says.

Kranthi Bathini, Director Research, WealthMills, says, “JFSL shares have been coming down in the past three sessions consecutively after listing at ₹265 levels. The fair value of this company works around ₹200 range and this stock has come to the investors from Reliance Industries, which is a widely held stock in terms of market capitalisation. That is the reason some kind of profit booking the stock has been witnessing in the past three trading sessions.”

“Investors with a long term perspective can hold onto the stock and the fresh entries are advised in the range of ₹200 levels which is a fair range for this stock at this point in time. But this is the stock to watch in the coming quarters because it is coming from the pedigree of Reliance industries and its focus on the financial sector.”

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