JFS outlook: Nomura said Reliance's track record in disrupting the retail and telecom segments has been impressive but it believes lending is a secular business and a different game from the perspective of underwriting, collection and analytics.
Jio Financial Services’ partners will act as a catalyst for its growth due to the varied business interests, which could assist the NBFC in running various pilot programs and customised service offerings, a brokerage said recently.
According to the data from Bloomberg Billionaires Index, Mukesh Ambani added $2.76 billion in the previous trading session, which took his wealth beyond $102 billion level.
The stock was up nearly 2% in trade on Wednesday on the National Stock Exchange at Rs 247.10. Intraday, it touched a high of Rs 251.60, which is the highest level since September 12. ​The gains on Wednesday were backed by strong volumes of more than 40 million shares, which was double the three-month daily average volume of 20 million shares.
Jio Financial Services: Shares of Jio Financial Services (JFS) fell on Wednesday as the stock will be excluded from Nifty and other NSE indices, on September 7 (Thursday). Watch this Visual Story to know more.