LIFESTYLE
This stock is not stopping, it is showing a rise for 5 consecutive days; why do investors have so much confidence?
Jio Financial Services Share: Shares of Mukesh Ambani's company Jio Financial have jumped 13 percent in the last five days. The reason behind this is the back-to-back approvals received by the company's various businesses.
Jio Financial Services Share: After four consecutive days of gains, the Indian stock market witnessed a decline today. In early trade, the BSE Sensex slipped 182.77 points to open at 83,876.13 points, while the NSE Nifty opened at 25,591.55 points with a decline of 46.25 points. However, even amidst all this, the share price of Jio Financial jumped on Monday, June 30.
This is the fifth consecutive session when the company's shares have gained. During this period, the shares of Mukesh Ambani's company have jumped up to 13 percent. This rise in the company's shares came when different businesses got back-to-back approvals. With this, Jio Financial has become a complete investment platform. Last Friday, Jio BlackRock Broking got approval from SEBI to start operations as a brokerage firm. This broking unit is a 50:50 joint venture between JioBlackRock Investment Advisors, Jio Financial Services and America's BlackRock Inc.
Recently, Jio BlackRock Asset Management Private Limited and Jio BlackRock Investment Advisors have also received approval to start operations. This has increased the confidence of investors in it. Jio Financial is also strengthening its hold in the digital payment segment. The company has recently invested 190 crores in Jio Payments Bank. Along with this, Jio Financial Services has also acquired full ownership of Jio Payments Bank by buying 17.8 percent stake from State Bank of India.
Jio Financial Services' net profit in the fourth quarter of FY25 was around Rs 316 crore. Which shows a growth of 2 percent compared to the same period last year. The company's operational revenue has also increased by 18 percent to Rs 493.24 crore. However, net interest income also saw a marginal decline of 4.5 percent to Rs 268.09 crore. The company's board has also announced its first dividend of Rs 0.50 per equity share.
