Jio Financial share price jumps 12% from 52-week low. Opportunity to buy?

Stock to buy: Jio Financial share price hit a new 52-week low of ₹198.65 apiece on the NSE in a recent stock market crash. However, the announcement of raising a stake in Jio Payments Bank and buying a stake in SBI (State Bank of India) triggered fresh buying in the Reliance Group stock at the lowest levels. On Friday last week, Jio Financial share price ended at ₹221.90 apiece on the NSE, registering nearly 12 per cent from its 52-week low. However, stock market experts believe that Jio Financial shares still have steam left, which may go up to ₹260 apiece in the short term.

Why is Jio Financial’s share price rising?

Speaking on Jio Financial’s share price rebound, Avinash Gorakshkar, Head of Research at Profitmart Securities, said, “In the recent stock market crash, banking and financial stocks witnessed strong resistance against the bears. After announcing RBI’s stimulus package for the NBFCs, the Nifty Bank index started ascending post-DIIs’ fresh buying. So, the chances of revival in financial and NBFC stocks are higher. That’s why investors are betting high on quality stocks with strong fundamentals. Recent buying in Jio Financial shares should be seen from this angle.”

Highlighting the strong fundamentals that fueled buying in Jio Financial shares, Abhishek Pandya, Research Analyst at StoxBox, said, “Jio Financial Services share price has recently shown a positive trend, increasing by nearly 12% from the 52-week low. This upward movement followed the announcement that Jio Financial Services plans to acquire the remaining stake in Jio Payments Bank from its joint venture partner, SBI. Currently, Jio Financial Services holds an 82.17% stake in Jio Payments Bank, and its board has approved the acquisition of the remaining shares from SBI for ₹104.54 crore.”

Abhishek Pandey of StoxBox said that Jio Financial Services Ltd.’s recent acquisition of Jio Payments Bank represents a significant step in the Company’s expansion strategy. By completing this acquisition, Jio Financial will consolidate its control over Jio Payments Bank, further strengthening its position in the financial services sector. However, he advised investors to closely monitor several key indicators, including the Q4FY25 figures and management guidance for FY26, before making investment decisions.

Jio Financial share price target

Speaking on the technical outlook of Jio Financial shares, Sumeet Bagadia, Executive Director at Choice Broking, said, “Jio Financial shares are looking positive on the chart pattern. The stock has a strong base at ₹205 apiece levels, and the support remains sacrosanct. Then, we can expect Jio Financial’s share price to touch ₹240 soon. If it exceeds ₹240, the stock may go up to ₹260 apiece level soon.”

Jio Financial news

Jio Financial Services holds an 82.17 per cent stake in Jio Payments Bank. The Company’s board, on March 4, approved the acquisition of the remaining stake from its joint venture partner SBI.

“The Board of Directors of the Company, at its meeting held today, have approved the acquisition of 7,90,80,000 equity shares of JPBL from SBI for an aggregate consideration of ₹104.54 crore. After this acquisition, JPBL will become a wholly owned subsidiary of the Company,” the billionaire Mukesh Ambani-owned Jio Financial Services said in a regulatory filing on Tuesday.

The acquisition is subject to approval from the Reserve Bank of India (RBI) and is expected to be completed within 45 days post receipt of RBI approval, the Company said.

Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.