Jio Financial Share Price Gain 10% in 3 Days on Jio Payments Bank Deal

Jio Financial Services stock price continued its upward trend for the third consecutive session, rising over 2% on Thursday. The stock hit a high of ₹222.35 per share on the BSE, driven by strong buying interest.

On March 6, nearly 1 crore shares of Jio Financial Services were traded on Indian stock exchanges, compared to 4 crore shares in the previous session. Over the past 3 sessions, the stock has gained more than 10%.

Boost from Jio Payments Bank Acquisition

The rally follows Jio Financial’s decision to buy the remaining stake in Jio Payments Bank from State Bank of India (SBI). Currently, Jio Financial owns an 82.17% stake in the bank. On March 4, the company’s board approved the purchase of the remaining 7.9 crore shares from SBI for ₹104.54 crore.

Once the deal is completed, Jio Payments Bank will become a 100% subsidiary of Jio Financial Services. However, the acquisition is subject to approval from the Reserve Bank of India (RBI) and is expected to be completed within 45 days after receiving regulatory clearance.

Stock Performance in Recent Months

Despite the recent rally, Jio Financial shares have faced a downward trend over the past few months:

• Down 11% in one month
• Fell 27% year-to-date (YTD)
• Dropped 34% in six months
• Declined 32% over the past year

As of 11:10 AM, Jio Financial share price were trading 2.05% higher at ₹221.60 per share on the BSE.

Conclusion

While Jio Financial has rallied recently, it remains in a broader downtrend, losing 27% YTD. Investors should watch for RBI approval and long-term growth prospects.

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