In a first, shares of Jio Financial Services Ltd gave up their key psychological level of Rs 200 in Monday's trade. The stock slumped 4.38 per cent to hit an all-time low of Rs 198.60. It was last seen trading 3.20 per cent lower at Rs 201.05. At this price, the scrip has corrected 33.97 per cent on a year-to-date (YTD) basis.
On the earnings front, the company 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 compared to 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 Q3 FY24.
Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, said investors with a long-term view could add Jio Financial's stock on dips, given the company's foray into financial services, stock broking and AMC (Asset Management Company) business. "Those with a medium- to short-term view should not hurry and consider avoiding these NBFC stocks at current levels," the market expert added.
Technically, the counter looked "bearish but oversold" on daily charts. Support could be seen in the Rs 190-184 range.
Osho Krishan, Senior Research Analyst - Technical & Derivatives at Angel One, said, "The stock's technical parameters submerged in oversold terrain. With no sign of respite, it is in the formation of lower lows – lower highs, indicating inherent weakness. For now, Rs 220-235 is expected to resist any pullback and until these levels are breached, the counter is likely to continue its downward trend."
Jigar S Patel, Senior Manager - Technical Research Analyst at Anand Rathi, said, "Support will be at Rs 190 and resistance at Rs 210. A decisive move above Rs 210 level may trigger a further upside of Rs 225. The expected trading range will be between Rs 190 and Rs 225 for the short term."
Sebi-registered research analyst AR Ramachandran said, "Jio Financial is bearish but also oversold on daily charts with next support at Rs 184. Investors should buy only if a daily close is above the resistance of Rs 206 which could lead to an upside target of Rs 237 in the near term."
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 25.02. 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 249.19 against a price-to-book (P/B) value of 5.32. Earnings per share (EPS) stood at 0.83 with a return on equity (RoE) of 2.13.
As of December 2024, promoters held a 47.12 per cent stake in the company.