Jio Financial Services Ltd. (JFSL) shares continued their upward march on Thursday, June 12, gaining 3% intraday to hit a six-month high of ₹312 per share. The rally marked the third straight session of gains and underscored strong investor sentiment following a series of strategic developments in the company’s financial ecosystem.
Let’s break down what’s fueling the momentum behind JFSL and why it’s a stock to watch in the near term.
₹190 Crore Infused into Jio Payments Bank
On Wednesday, JFSL made headlines by announcing a capital infusion of ₹190 crore into its wholly owned subsidiary, Jio Payments Bank Ltd. As per the regulatory filing, the investment was made in cash at face value, with JFSL allotted 19 crore equity shares of ₹10 each.
Key Highlights:
- Type of transaction: Related-party, as Jio Payments Bank is wholly owned.
- Arm’s-length assurance: JFSL clarified that no promoter or group entity had a vested interest in the deal.
- Strategic motive: Strengthening its digital payments and fintech infrastructure.
This move signals JFSL’s aggressive push to solidify its position in the fintech and digital banking space, particularly amid India’s rapidly evolving UPI and cashless economy.
SBI Exit Makes Jio Payments Bank Fully Owned by JFSL
Just a week prior, JFSL completed the acquisition of the remaining 17.8% stake held by the State Bank of India (SBI) in Jio Payments Bank. This 7.91 crore share transaction was executed for ₹104.54 crore.
With this acquisition, Jio Payments Bank has now become a 100% subsidiary of JFSL, giving the company complete control over one of the most promising verticals in its portfolio.
JFSL Share Price Trend: Rebounds Strongly from April Lows
From its April lows, JFSL stock has rallied nearly 36%, now trading at ₹289 per share. On Thursday, it briefly touched ₹312, marking a six-month high and indicating robust investor confidence.
Listing Journey:
- BSE debut (Aug 21, 2023): ₹265 per share
- NSE debut: ₹262 per share
- Discovered price: ₹261.85
- Current price: ₹312 (intraday high)
Growth Drivers:
- Recent capital infusions
- SEBI approvals
- Aggressive fintech expansion
- Investor optimism around the Jio-BlackRock partnership
Jio BlackRock: Launch of Aladdin Platform and SEBI Approval
One of the biggest catalysts in JFSL’s growth story has been the progress of Jio BlackRock, a 50:50 joint venture between Jio Financial Services and global asset manager BlackRock.
Aladdin Platform Launch:
On June 17, Jio BlackRock launched Aladdin, a unique platform offering investment analytics and risk management. Aladdin is expected to play a key role in enhancing retail and institutional investor offerings in India.
Mutual Fund & Investment Advisory Approvals:
- In May, Jio BlackRock Mutual Fund received SEBI’s approval to commence operations.
- On June 11, JFSL informed that Jio BlackRock Investment Advisers (JBIAPL) received SEBI approval to function as a registered investment adviser.
These developments position Jio BlackRock to disrupt India’s ₹50 lakh crore mutual fund industry with cutting-edge tech and global expertise.
Company Background: What Does JFSL Do?
Jio Financial Services Ltd., formerly Reliance Strategic Investments Ltd., is the financial arm demerged from Reliance Industries. It operates as a non-deposit-taking, non-banking financial company (NBFC).
Core Areas:
- Retail Lending
- Merchant Lending
- Digital Payment Solutions
- Payments Bank Operations
- Insurance Broking
- Investment Advisory (via Jio BlackRock)
The company is aligning its model to become a digital-first financial services powerhouse in India.
Analyst Take: What’s Next for JFSL Stock?
With strong financial backing from Reliance, rapid fintech integration, and fresh SEBI approvals, analysts believe JFSL is entering a high-growth phase. The ₹190 crore capital infusion signals confidence in long-term scalability, especially in digital banking and investment services.
However, some caution remains as the stock has already seen a 36% rally in a short span. Profit-booking could occur, but long-term fundamentals appear strong.
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