Jio Financial Services of Reliance Industries showed upward trajectory in recent months, reaching new record highs. The stock hit ₹394.70 apiece today. The company reported stellar performance in FY24.
JFS outlook: Nomura said Reliance's track record in disrupting the retail and telecom segments has been impressive but it believes lending is a secular business and a different game from the perspective of underwriting, collection and analytics.
The net profit was Rs 294 crore in the preceding December quarter. For the full year ended March 2024, the financial services company s net profit grew multi-fold to Rs 1,604 crore as against just Rs 31 crore in FY23.
On Friday, Jio Financial Services shares jumped over 10 per cent and touched a new high of Rs 347. The surge propelled the company's market capitalisation on BSE to cross the Rs 2 lakh crore mark for the first time., Companies News, Times Now