Stock Performance: Jio
Jio Financial Services Limited (JFSL), initially established as Reliance Strategic Investments Private Limited, is a subsidiary of the Indian multinational conglomerate Reliance Industries Limited (RIL). After its demerger with RIL, it was rebranded as Jio Financial Services Limited and received a new certificate of incorporation on July 25, 2023.
Jio Financial Services Share Performance
It has been listed on BSE and NSE since August 21, 2023 when the stock opened at ₹262.00. It reached its all-time high of ₹394.70 on April 23, 2024 and all-time low of ₹202.80 on August 25, 2023. As of October 30, 2024, the share price opened at ₹326.75.
It has provided a 1-year return of 48.95% and a 5-year return of 31.06%. With a market cap of ₹2,05,238.24 crores, Jio remains a prominent player in the financial services sector.
H1 and Q2 FY 2025 Financial Performance
- The total income for the JFSL reached ₹694 crore in Q2 FY25, which marked an increase from ₹608 crore in Q2 FY24 and ₹418 crore in Q1 FY25.
- For the first half (H1) FY25, total income amounted to ₹1,112 crore, slightly up from ₹1,022 crore in H1 FY24.
Recent Developments
- In celebration of Dhanteras 2024, JFSL customers could now invest in digital gold through SmartGold via the JioFinance app, with investments as low as ₹10.
- On October 28, 2024, Jio Payment Solutions Limited (JPSL), a wholly owned subsidiary of JFSL, announced that it has received a certificate of authorisation to operate as an ‘Online Payment Aggregator’.
- JFSL partnered with BlackRock for a joint venture aimed at entering India’s Asset Management Industry.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
https://www.angelone.in/blog/jio-financial-services-stock-journey