LIC made an investment in Reliance Industries! | Business News | Mukesh Ambani

Mukesh Ambani's Jio Financial Services, the country's biggest businessman and Reliance chairman, has recently gone public. It is also always under debate. Another piece of news has emerged in connection with this. In fact, it is the largest insurance firm in the country. On Tuesday, Life Insurance Corporation announced the acquisition of a stake in Jio Financial Services, a non-banking financial services business of Reliance Group.

Investing in Jio Financial Services

In addition to Jio Financial, LIC owns 6.49 percent of Reliance as of June 30. Jio Financial Services was recently spun off from Reliance and traded on the stock exchange. Jio Financial Services debuted in the stock market on August 21. Its shares were priced at Rs 265 on the BSE and Rs 262 on the NSE. However, it has not received a warm welcome in the stock market. For the second day in a row, the company's stock has fallen.