Jio Financial Services rises with 5%, a good news for all the investors

Shivani Arora

After The stock Jio Financial Services entered into a joint venture with US-based BlackRock. A rise of 5% has been seen in the share.On April 15, Jio Financial Services announced its joint venture with US-based BlackRock to expand into wealth management and brokerage services in India and just a day after l it’s value is around Rs. 362 now giving it a 5% hike.

In the year 2023, BlackRock and Jio Financial Services announced an agreement to form a 50:50 joint venture to deliver tech-enabled access to affordable, innovative investment solutions for millions of investors in India. Jio shares have risen more than 60% over the last six months. Notably, JFSL has delivered positive monthly returns consistently from November last year to March this year.

While The Nifty Financial Services index has given a negative return of 2.6% in the last five days. However, it has risen over 6% in the last six months but again wiped out more than 1.8% of investors’ wealth from year to date. People have lost lacs of rupees in the past few days.

“This joint venture between Jio and Blackrock further strengthens the Company’s relationship with Blackrock, Inc., with whom the Company had announced a 50:50 joint venture on July 26, 2023, to transform India’s asset management industry through a digital-first offering and democratise access to investment solutions for investors in India,” as per the reports.

About Jio Financial Services

Jio Financial Services is an Indian financial services company that was originally a subsidiary of Reliance Industries (RIL). It became an independent entity and was listed on the Indian stock exchanges in August 2023.Jio Financial Services operates as a non-deposit-taking, non-banking financial company, specialising in retail lending, merchant lending, payments bank operations, payments solutions, and insurance broking.

Jio Financial Services manages its financial operations through subsidiary entities such as Jio Finance Limited (JFL), Jio Insurance Broking Limited (JIBL), and Jio Payment Solutions Limited (JPSL). Additionally, it operates a joint venture, Jio Payments Bank Limited (JPBL).

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I am Shivani Arora, a media student who is working as a freelancer Content Writer, news writer and social media handler with different agencies. I am a post graduate student who is self motivated and a hardworking person. My main aim is to excel in my career by learning and exploring new things.
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