Jio Financial Services Ltd (JFSL) shares remained unchanged on Tuesday, ending at Rs 233.35 level. At this price, the stock traded near its recent one-year low of Rs 231.10 and has corrected 23.77 per cent in a month. It saw high trading volume on BSE today as around 27.64 lakh shares changed hands. The figure was higher than the two-week average volume of 20.50 lakh shares. Turnover on the counter came at Rs 64.75 crore, commanding a market capitalisation (m-cap) of Rs 1,48,250.56 crore.
A few analysts opined that investors can consider holding the stock with a long-term view. One of them suggested averaging it on further dips.
Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, said Jio Financial has a good futuristic view, adding investors with a long-term view can hold on to the stock. JFSL's businesses are currently in the execution stage, he further stated.
Market expert Kush Ghodasara said, "Jio Financial has announced a lot of businesses but the company is not marketing as of now. It is waiting for the right time when it would expand its broking business. Those holding should continue to hold as the stock can perform in the long term. The bottom is approaching as the counter saw a decent correction. Instead of selling rather consider averaging it at further lower levels."
Technically, the counter traded lower than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). The counter's 14-day relative strength index (RSI) came at 19.73. A level below 30 is defined as oversold while a value above 70 is considered overbought.
The stock has a price-to-equity (P/E) ratio of 279.97 against a price-to-book (P/B) value of 5.97. Earnings per share (EPS) stood at 0.83 with a return on equity (RoE) of 2.13.
JFSL posted a marginal 0.32 per cent rise in its consolidated net profit for the December 2024 quarter. In Q3 FY25, profit came at Rs 294.78 crore as against Rs 293.82 crore in the year-ago period. Revenue from operations climbed 5.98 per cent to Rs 438.35 crore in Q3 FY25 from Rs 413.61 crore in the corresponding period last fiscal.
The company observed a significant rise in its assets under management (AUM) in the latest quarter, climbing to Rs 4,199 crore from Rs 1,206 crore in Q2 FY25.
As of December 2024, promoters held a 47.12 per cent stake in the company.