📈 Jio Finance Share Price Soars by 55% in Just Five Months
India’s richest industrialist Mukesh Ambani’s Jio Financial Services has given investors an impressive 55% return in just five months, with a further surge in share price on Thursday. However, the shares are still 8.17% below their record high. Last year, Jio Financial Services made a stellar debut in the market, pleasing investors.
📊 Brokerage Houses Bullish on Jio Finance Shares
Jio Financial Services, formerly known as Reliance Strategic Investment Limited, has recently launched the JioFinance app in beta mode, offering digital banking, UPI transactions, bill statements, insurance advice, and savings accounts. Ambani has hinted at future plans to provide loan facilities, mutual funds, and expand into home loans.
💰 Ambani Plans Collaboration with BlackRock for Mutual Fund and Broking Platform
Ambani’s company is planning to collaborate with BlackRock Company and BlackRock Advisors Singapore Private Limited to establish a money management and broking platform. Ravi Singh from Religare Broking predicts that Jio Financial Services will soon reach a target of ₹380, with a stop loss at ₹350. As of March 2024, promoters held a 47.12% stake in the NBFC.
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