Jio Financial's shares soar amidst positive developments
Jio Financial Services's stock shot up nearly 10% this week, fueled by fresh regulatory approvals and some smart business moves.
The big news? Its joint venture with BlackRock just got SEBI's go-ahead to start broking operations.
What else is happening in the company?
Jio Financial has been busy—investing ₹190 crore in Jio Payments Bank and acquiring State Bank of India's 17.8% stake in Jio Payments Bank for ₹104.54 crore, giving it full control there.
Profits for Q4 FY25 nudged up 2% to ₹316 crore, while revenue jumped 18%.
Company announced a dividend of ₹0.50 per share
For the first time, the company announced a dividend of ₹0.50 per share—a sign it's keen to reward shareholders as it grows.
With shares trading above ₹326 and hitting recent highs near ₹331, Jio Financial is clearly making waves in the sector with its strategic moves and steady growth.