Gaurang Shah of Geojit Financial Services expressed optimism for Jio Financial Services, recommending a long-term investment horizon of 1.5 to 2 years
Shah encouraged current shareholders to hold their investments and consider increasing stakes if prices dip to ₹280-₹300.
New investors with a long-term perspective are advised to start accumulating shares gradually to capitalize on future growth.
Jio Financial Services reported a 3% rise in net profit, reaching ₹689 crore for Q2 FY25, compared to ₹668 crore in the same quarter last year.
Total revenue grew significantly to ₹694 crore in Q2 FY25, up from ₹608 crore in the same period last year.
The company's expenses doubled to ₹146 crore in Q2 FY25, reflecting its growing operational and developmental activities.
Jio Financial Services operates in investment and finance, insurance broking, payment banks, aggregators, and gateway services, making it a diversified financial player.
In July, its subsidiary Jio Finance Ltd introduced a house loan product and mutual fund loans, signaling a focus on innovative financial solutions.
Jio Financial Services teamed up with BlackRock Inc. to form two joint ventures, investing ₹82.9 crore for a 50% stake in each