As of 11:37 AM, shares of JFSL were trading 5% lower at Rs 253.45 on
BSE
. According to ET, the profit after tax fell to Rs 294 crore during Q3. This decline is attributed to the absence of dividend income from shares held in RIL and an increase in operating expenses due to employee additions, capacity building, and corporate social responsibility (CSR) expenses.
JFSL's management told investors that they are now more focused on secured lending, following current market trends and regulatory shifts. They also have plans to start a leasing business and explore supply chain financing. In the insurance broking sector, the company expanded its client base to 27 and is actively expanding its payments bank and payments platforms. During an investor call, JFSL's management emphasised the substantial lending opportunities, particularly in unsecured lending. The company plans to concentrate on secured products, launching "Device As-a-Service" (DaaS), involving the leasing of airfiber, phones, laptops, along with supply chain financing, loans against shares, and home loans.
In payment solutions, JFSL conducted a pilot launch of the
Jio
Voice box, enabled Jio phones with
UPI
, and is implementing QR codes across its ecosystem. Furthermore, the company has applied to SEBI for an asset management license in collaboration with Blackrock, having already established a management team for the purpose. JFSL has filed for conversion from an NBFC to
a Core Investment Company
(CIC) and established a separate 100% subsidiary, JIASL, to handle leasing operations. Despite a 32% rally in the stock over the last three months, JFSL currently lacks significant analyst ratings.
Jio Financial Services Ltd. is an Indian financial services company, based in Mumbai, India that was originally a subsidiary of Reliance Industries (RIL). It became an independent entity and was listed on the Indian stock exchanges in August 2023.
https://en.wikipedia.org › wiki › Jio_Financial_Services
Shares Price: Shares of Jio Financial Services (JFSL) fell 6.25% to Rs 250.10 on BSE after reporting a 56% QoQ drop in Q3 profit. The decrease was due to the absence of dividend income on shares held in Reliance Industries (RIL) and increased operating expenses.
The decline comes after the non-bank finance company (NBFC) posted mildly weak quarterly financial results for the April-June quarter (Q1) of the current financial year (FY25).
So, those with Jio Finance shares in their portfolio are advised to hold the scrip, maintaining a stop loss at ₹205. If the stock breaches above ₹260 on a decisive basis, then one can upgrade one's trailing stop loss at ₹240 for the near-term target of ₹295.”
Reliance Industries (RIL) shareholders will receive 1 share of Jio Financial Services (JFS) for every share they own after the demerger. Please note: To be eligible for this share allocation, shareholders must have Reliance Industries (RIL) shares in their demat account on the record date, which is July 20 2023.
3. Is JIO Financial Services Ltd a good buy now? The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of JIO Financial Services Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
Jio Financial Services is trading at 351.95 as on Fri Sep 13 2024 10:21:08. This is 0.67% upper as compared to its previous closing price of 349.60. What is the market capitalization of Jio Financial Services? The market capitalization of Jio Financial Services is 223603.84 Cr as on Fri Sep 13 2024 10:21:08.
However, if your investment horizon is truly long term and you believe that big developments will take place in the company that will lead to a huge growth in profits over the next 5-7 years, then there's a strong chance the stock can become a multibagger.
The Dividend Payout of Jio Financial Services Ltd changed from 0 % on March 2019 to 0 % on March 2024 . This represents a CAGR of 0.0% over 6 years. . The Latest Trading Price of Jio Financial Services Ltd is ₹ 351.65 as of 17 Sep 15:30.
Jio Financial Services reported a net profit of ₹313 crore for the June quarter, marking a 6 per cent year-on-year decline compared to the ₹332 crore recorded in the same period of the previous financial year.
Jio's net profit went up to ₹5,445 crore in the first quarter of the 2024-25 fiscal, from ₹5,337 crore in the March 2024 quarter. A CNBC-TV18 poll of analysts had expected the to come in 1.7% higher sequentially at ₹5,430 crore.
Jio Financial Services' shares fell 2.4% to a low of Rs 346.75 from its previous close of Rs 355.40. The fall in the stock price came a day after the company reported a 5.72% decline in its consolidated net profit for Q1 FY25.
What happens to shareholders in a demerger? It depends what type of demerger it is. If it's a split off, shareholders will get the opportunity to exchange their ParentCo shares for NewCo shares. If it's a spin off, shares in the newly created company are distributed to existing ParentCo shareholders via a dividend.
Synopsis. Reliance Industries shares dropped 3% to Rs 3,019 on BSE as it reported a 5% YoY profit decline, missing Street estimates for Q1. Jefferies lowered target price to Rs 3,525 citing retail underperformance and subdued oil-to-chemicals outlook. Nuvama set the highest target at Rs 3,786.
The shares of Reliance Power had witnessed a sharp fall in their prices after Sebi had restricted Anil Ambani from the securities market for five years on charges of fund siphoning from Reliance Home Finance.
Usually, Jio network problems arise because of weak network coverage or poor signal strength. The status bar might show you the full signal, but while checking the signal strength status from your Android phone's settings, you will get to know the actual strength of your Jio net signal.
JIO Financial Services Ltd has a market capitalisation of ₹ 2,23,413 Cr as on 17-Sep-2024. As per Value Research classification, it is a Large Cap company.
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