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Jio Financial share price surged 3.98% on SEBI’s approval for its stockbroking arm.
Trading volume hit 25.96 million shares, reflecting strong intraday demand.
The stock’s TTM PE ratio stands at 128.01, significantly higher than the sector PE of 29.37.
Jio Financial Services (JFS) shares surged 3.98% in early trade on June 23. The stock was trading at ₹324.95 as of 11:15 AM. It opened at ₹314.10 and hit an intraday high of ₹327.70, close to its upper circuit limit of ₹343.75. Investor sentiment remained strong, backed by rising volume.
The sharp gain followed a major regulatory boost. The company received SEBI approval for its stockbroking arm to act as a registered stockbroker. This strengthens JFS’s roadmap for expanding into full-service financial offerings.
On the Bombay Stock Exchange, JFS saw 25.96 million shares traded by mid-morning. The total traded value stood at ₹8,440.92 crore. The VWAP (Volume Weighted Average Price) was ₹320.36, showing steady intraday demand.
From its previous close of ₹312.50, the share gained ₹12.45 today. The current market capitalization is at ₹2.06 lakh crore. The stock trades at a TTM PE ratio of 128.01, which is much higher than the sector PE of 29.37. This reflects investor expectations of high growth.
Jio Financial share price chart shows gains of 3.62% as of 11.22 AM:
Jio Financial stock is approaching its 52-week high of ₹363.00. It remains well above its 52-week low of ₹198.65. The all-time high is ₹394.70, while the all-time low is also ₹198.65.
The classic pivot point (PP) for today is ₹309.83. Key support levels are at ₹306.77 (S1) and ₹301.03 (S2). Resistance levels stand at ₹315.57 (R1), ₹318.63 (R2), and ₹324.37 (R3).
The book value per share is ₹215.87, giving it a P/B ratio of 1.51. This suggests fair valuation, given the company’s scale and expansion plans. The stock’s beta is currently unavailable, but delivery volume over 20 days averages 46.65%, with an average volume of 15.19 million shares.
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The share price has been rising steadily. Earlier, Jio Financial's joint venture with BlackRock, Jio BlackRock Asset Management, received SEBI approval to enter the mutual fund business. Now, its stockbroking license has added another catalyst.
The 50:50 joint venture blends Jio Financial’s digital-first reach with BlackRock’s global investment expertise. It aims to offer retail and institutional investors advanced investment products with strong risk management.
The approvals are secured for both mutual fund and broking operations. This means JFS is set to deliver full-stack financial services. These developments have fueled bullish investor sentiment in recent sessions.
Despite the strong rally, analysts remain cautious. Based on two analyst ratings, the stock holds a 100% ‘Hold’ recommendation. No analysts have rated it as a ‘Buy’ or ‘Sell’. This indicates that while the long-term story is promising, current valuations may already price in near-term gains.
Market Outlook
Jio Financial Services appears well-positioned in India’s evolving financial sector. JFS follows a digital-first approach. It, combined with BlackRock’s global investment capabilities, provides a strong competitive edge.
The stock’s nearly 4% rise signals a positive market reaction. Valuation remains elevated, suggesting that sustained growth will depend on performance and earnings expansion. Short-term volatility may continue near the current resistance level. So, investors should watch out for the key price levels before making any decisions.
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1. Why is Jio Financial Services' share price going up?
Jio Financial's share price is surging because its stockbroking arm received approval from the market regulator, SEBI.
2. What is the share price of Jio Financial Services today?
As of 11:15 AM on June 23, the share price was ₹324.95, a gain of nearly 4% for the day.
3. What new businesses is Jio Financial Services starting?
Jio Financial is launching a stockbroking business and has also received SEBI approval to start mutual fund operations with BlackRock.
4. What do analysts recommend for Jio Financial shares?
Analysts currently have a consensus ‘Hold’ rating on the stock, suggesting caution despite positive long-term growth potential.
5. Is Jio Financial's stock valued high compared to its peers?
Yes, the stock trades at a high TTM PE ratio of 128.01, well above the sector average of 29.37.
