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JFS may target consumer durable loans, unsecured personal and small-ticket merchant loans by leveraging Reliance Retail and Jio’s physical and digital distribution channels, IIFL Securities said in an August note.
Jio Financial could see passive outflows to the tune of $324 million; HDFC Bank could see inflows amounting $44 million, Abhilash Pagaria of Nuvama Alternative & Quantitative Research suggested.
Jio Financial Services: Shares of Jio Financial Services (JFS) fell on Wednesday as the stock will be excluded from Nifty and other NSE indices, on September 7 (Thursday). Watch this Visual Story to know more.
At RIL's 46th annual general meeting (AGM), Chairman and Managing Director Mukesh Ambani called Jio Financial as the fourth growth engine. He said the company's products would not just compete with current industry benchmarks but also explore path-breaking features such as blockchain-based platforms and CBDC.
The coming week also has a monthly derivatives expiry lined up. The days would remain influenced by rollover-centric activities. The week is likely to see a tepid start, with the levels of 19,850 and 20,000 acting as potential resistance points. The supports come in at 19,610 and 19,470 levels.