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Shares of Jio Financial Services (JFS), the demerged entity of Reliance Industries, remain in focus today as the company is slated to release its first-ever quarterly results since listing. The non-banking financial corporation (NBFC) arm of RIL has failed to get good response from investors so far, with shares delivering muted return of 5% since listing on the BSE and the NSE on August 21 after spending a month as a dummy stock on the exchanges since July 20, following the demerger from the parent.
Ahead of September quarter results, Jio Financial shares opened marginally higher at ₹225 against the previous closing price of ₹224.25 on the BSE. In the first hour of trade so far, the NBFC major gained as much as 0.75% to ₹225.95, while the market capitalisation rose to ₹1.43 lakh crore. 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.
For the quarter ended June 30, 2023, JFS (formerly known as Reliance Strategic Investments Limited) recorded a net profit after tax at ₹145.7 crore against a loss of ₹1.84 crore in the year ago period. The company had posted a profit of ₹31.25 crore in the March 2023 quarter.
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