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Ahead of Q2 results, Jio Financial stock ended 0.27% higher at ₹224.85 per share, while the market capitalisation rose to ₹1.42 lakh crore. Early today, the stock opened marginally higher at ₹225 against the previous closing price of ₹224.25 on the BSE. During the session, the NBFC major gained as much as 0.75% to hit an intraday high of ₹225.95. The company is the third largest NBFC after Bajaj Finance and its holding company Bajaj Finserv in terms of market capitalisation.
The counter hit an all-time high of ₹278.20 on August 21, 2023, while it touched its record low of ₹205.15 on August 25, 2023.
JFS, a part of billionaire Mukesh Ambani-led conglomerate, was demerger from the parent on July 20, 2023. The RIL’s board appointed Hitesh Kumar Sethi as managing director and chief executive officer of the company, as well as Isha Mukesh Ambani and Reliance executive Anshuman Thakur as non-executive directors. Besides, former Union Home Secretary Rajiv Mehrishi, former MD and CEO of Punjab National Bank Sunil Mehta, and Bimal Manu Tanna, a chartered accountant who worked with PwC, have been appointed as independent directors on the board for a term of five consecutive years up to July 6, 2028.
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