Jio Financial Services’ share price increased by over 3% on Wednesday, continuing its rally for the second consecutive day with strong trading volumes. The stock price rose as much as 3.75%, reaching ₹254.25 on the BSE.
This week, Jio Financial Services shares have risen nearly 6%, recovering from an 18% drop over the past month and a 21% decline over the past three months.
Technical Outlook
Shares of Jio Financial Services have seen a 41% decline from its peak of around ₹394, and technical charts suggest the stock may be bottoming out, with signs of a potential recovery.
According to Anand Rathi, a brokerage firm, the stock is showing signs of reversing near a strong support level. A bullish RSI divergence on the chart indicates a possible upward move. Based on these technical signals, they recommend buying in the ₹230-240 range, with a target of ₹305, offering a potential upside of around 25%. The stop-loss is recommended at ₹199 based on daily closing prices.
Q3 Result of Jio Financial Services
Jio Financial Services reported a slight rise of 0.3% in its net profit for Q3 FY25, reaching ₹295 crore compared to ₹294.8 crore in the same period last year. The company’s income grew to ₹449 crore from ₹414 crore YoY. The Assets under Management (AUM) surged to ₹4,199 crore for the quarter ending December 2024, up from ₹1,206 crore in the previous quarter.
The company also expanded its digital presence, with 7.4 million monthly active users on its digital platforms, and operates in seven cities with nine offices.
Jio Financial Services Demerger
Jio Financial Services was demerged from Reliance Industries in 2023 and operates as a Non-Banking Financial Company (NBFC). The company offers services through its subsidiaries, such as Jio Finance, Jio Insurance Broking, and Jio Payment Solutions, as well as a joint venture with Jio Payments Bank.
Jio Financial Services was listed in August 2023, with the stock price initially at ₹265 on the BSE and ₹262 on the NSE. Its 52-week high was ₹394.70, while its 52-week low was ₹231.10.
At 11:50 AM, Jio Financial Services shares were up by 3.14%, trading at ₹252.75 on the BSE, with a market cap exceeding ₹1.60 lakh crore.
Disclaimer: The views and recommendations above are those of individual analysts or brokerage firms and do not reflect the opinions of Ved Khabar. It is recommended that investors consult certified experts before making any investment decisions.