Jio Financial Services shares rise nearly 3% after RBI approval as core investment company

Shares of Jio Financial Services rose 2.5% to Rs 256.5 on BSE after RBI approved its conversion from NBFC to CIC post a November 2023 application. CICs must have Rs 100 crore in assets and 90% in investments. RSI is 44.1, MACD 1.2 below signal line, stock above multiple SMAs except 20-, 30-, 50-day; price at 10:25 am Rs 351.6.