Jio Financials Services market cap surpasses Rs 2 lakh crore

Jio Financial Services, a premium NBFC under the leadership of Mukesh Ambani’s Reliance Industries, has achieved a new milestone today. The company’s market capitalisation has surged to a record high, crossing Rs 2 lakh crore for the first time since its listing on the Indian stock market.

Share Performance

At the beginning of the day, the company’s shares opened at Rs 306 per share on the BSE, which was higher than the previous day’s closing price. During the day, the stock rallied around 15% and reached its 52-week high of Rs 347 on the BSE. Currently, while writing this article, it is trading at around Rs 331 per share on the BSE.

The current market capitalisation of the company stands at Rs 2,10,357 crore. Additionally, the stock has generated an impressive 39% return in the past month and a 47% return in the past six months.

Market Debut

The stock debuted on the bourses on August 21 at Rs 262 apiece. On the listing day, it was locked into the lower circuit and continued to hit back-to-back lower circuits for the next three days after the listing day. On the 5th day, August 25, the stock reached an all-time low of Rs 214.50 apiece but eventually closed the day in the green for the first time since its debut.

Since that day, the Jio Financial services stock has not revisited its all-time low. On January 15, 2024, the stock surpassed its debut price of Rs 262 apiece and began trading at all-time high levels. From these levels, the stock is showing significant momentum towards the upside.

From its all-time low price, the stock has recorded an impressive rally of over 70% within approximately 6 months.

Company Overview

JFSL was originally incorporated as Reliance Strategic Investments Private Limited in July 1999 under the Companies Act, 1956. Jio Financial Services Limited was incorporated on July 23. JFSL is an NBFC-ND-SI registered with the RBI. The company is a holding company and operates its financial services business through its consumer-facing subsidiaries, namely Jio Finance Limited (JFL), Jio Insurance Broking Limited (JIBL), and Jio Payment Solutions Limited (JPSL), and its joint venture, namely Jio Payments Bank Limited (JPBL).

Investors must keep this stock on their radar.

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.