Jio Financial Services Ltd shares slipped into the red after opening higher in Tuesday's trade. The stock, which opened at Rs 229.05 on BSE, fell 1.01 per cent as the session progressed to hit a low of Rs 226.10. Despite the mentioned drop, the stock has climbed 4.15 per cent from its one-year low value of Rs 217.10, seen on February 17, 2025.
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 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.
A market expert said investors can add Jio Financial shares to their portfolio but only with a long-term view. Technically, support on the counter could be seen in the 220-210 range. A decisive close of the Rs 240-250 range is required for further upside potential.
"Jio Financial shares are at their lower end. Investors with a long-term view can add this stock on dips, given the company's foray into financial services, stock broking and AMC (Asset Management Company) business as well," Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, told Business Today. Those with a medium- to short-term view should not hurry and consider avoiding these NBFC stocks at current levels, Bathini added.
"The stock is hovering near its 52-week low with technical parameters submerged to oversold terrain. A strong support is seen around Rs 220-210 levels, while a sustainable buying above Rs 250 is likely to restore momentum in the counter in the coming period," said Osho Krishan, Senior Research Analyst - Technical & Derivatives at Angel One.
"One can consider buying the stock around Rs 220, expecting an upside target price of Rs 240. Keep stop loss placed at Rs 210," said Ravi Singh, Senior Vice-President (Retail Research) at Religare Broking.
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 36.32. 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 274.03 against a price-to-book (P/B) value of 5.85. 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.