Stay updated with breaking news from Jio Voice. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Shares of Mukesh Ambani's Jio Financial Services rallied 14.5% to a fresh peak of Rs 347, crossing the Rs 2 lakh crore market cap mark. Jio may acquire Paytm wallet business. Jio Payments Bank operates with digital savings accounts, bill payments, and debit cards. Jio launched Jio Voice box, implemented QR codes, and conducted sandbox for loans.
Jio Financial shares ended 14% higher on BSE on Monday following a media report stating that Jio has been in talks to buy the Paytm wallet business since November. Citing sources, the report had said as part of a larger bailout plan, Jio may offer to acquire Paytm Payments Bank.
Brokerages remain watchful of Jio Financial's progress, saying that it is taking a calibrated approach to growth
Jio Financial 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. JFSL plans to focus on secured lending, launch a leasing business, and expand its client base in insurance broking.
JFS Q3 results: Interest income for the quarter stood at Rs 270 crore against Rs 186 crore in the September quarter. Pre provisioning operating profit for the quarter came in at Rs 316 crore against Rs 537 crore in the September quarter.