Jio Financial Services Ltd (NSE: JIOFIN) saw a positive uptick on Thursday, reflecting renewed interest from market investors. Experts in the financial sector have rated the stock as a ‘BUY,’ recommending it for its potential to deliver sustained returns. Over the past year, Jio Financial has returned over 50%, positioning it as a promising investment within the financial services sector.
As of Thursday, October 24, Jio Financial stock rose by 0.40% to close at ₹315.95. However, by Friday, October 25, it adjusted downward by 1.72%, settling at ₹310.65.
Jio Financial Stock Target Price
Market experts have set a target price of ₹370 for Jio Financial stock, encouraging investors to consider adding it to their portfolios at current levels. A support level of ₹305 has been identified, with a recommended stop loss at this price. If the stock holds steady and reaches ₹335, analysts anticipate further growth, potentially pushing it toward the target price of ₹370.
Q2 Financial Results
For Q2 FY24, Jio Financial reported a 14.14% year-over-year revenue increase, reaching ₹694 crore, with interest income totaling ₹205 crore. Operating expenses doubled, rising to ₹142 crore, indicative of the company’s growth initiatives and the expanding operational framework.
Stock Return Performance Summary
- Last 6 Months: Down 17.26%
- 1-Year Return: Up 50.34%
- 5-Year Return: 47.30%
- Year-to-Date (YTD) Return: 34.70%
Disclaimer
Investing in mutual funds and the stock market involves risks. Always consult your financial advisor before making any investment decisions
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