Stock market today, March 5 -- Shares of Mukesh Ambani-owned Jio Financial Services gained 4% in intraday deals on Wednesday, March 5, extending gains to the second day in a row, after the company announced plans to acquire the remaining shares of Jio Payments Bank from State Bank of India (SBI).

Jio Financial, which already holds a 82.17% stake in Jio Payments Bank, will acquire the remaining stake from its joint venture partner SBI. After this, Jio Payments Bank will become a wholly-owned subsidiary of Jio Financial.

"The Board of Directors of the Company, at its meeting held today, have approved acquisition of 7,90,80,000 equity shares of JPBL from SBI for an aggregate consideration of Rs.104.54 crore," the company said in a filing d...