Daijiworld Media Network – Mumbai
Mumbai, Jul 17: Shares of Jio Financial Services Ltd surged over 6 per cent on Friday after the company reported a sharp rise in its consolidated net profit for the April-June quarter of the financial year 2026-27, supported by strong business growth and higher assets under management.
The stock opened on a positive note, gaining 4.94 per cent to Rs 247.30 against the previous closing price of Rs 235.65. During the trading session, it touched an intraday high of Rs 249.90, marking a rise of 6.05 per cent.
The company’s shares were trading firmly in the green at Rs 245.25, up Rs 9.60 or 4.07 per cent. The company’s market capitalisation stood at around Rs 1.61 lakh crore.
Jio Financial Services reported a 156 per cent year-on-year increase in consolidated net profit at Rs 830 crore for the first quarter. The company said its profit after tax rose significantly, driven by sustained growth in assets under management (AUM).
The company’s revenue from operations stood at Rs 2,004.47 crore during the quarter, registering a growth of 227 per cent compared to Rs 612 crore recorded during the same period last year.
On a standalone basis, the company posted a net profit of Rs 105.24 crore, marking a growth of 47.27 per cent.
The stock has outperformed the sector by 3.81 per cent and is currently trading above its short and medium-term moving averages, including the 5-day, 20-day, 50-day and 100-day averages, though it remains below the 200-day moving average.
According to market data, Jio Financial Services shares have declined over the longer term, falling 28.53 per cent in two years and 22.65 per cent over the past one year. On a year-to-date basis, the stock has declined 16.76 per cent compared to an 8.59 per cent fall in benchmark indices.
Meanwhile, Jio Financial Services has entered into a strategic agreement with Germany-based Allianz Group to establish a 50:50 joint venture in the insurance sector.
The partnership will focus on general insurance and health insurance businesses, aiming to tap into India’s rapidly expanding insurance market. The agreement formalises a partnership announced earlier after Allianz exited its previous association with Bajaj Finserv.
The strong quarterly performance and the proposed insurance venture have boosted investor sentiment towards Jio Financial Services, leading to renewed buying interest in the stock.