On Friday, Jio Financial Services shares jumped over 10 per cent and touched a new high of Rs 347. The surge propelled the company's market capitalisation on BSE to cross the Rs 2 lakh crore mark for the first time., Companies News, Times Now
Jio Financial shares ended 14% higher on BSE on Monday following a media report stating that Jio has been in talks to buy the Paytm wallet business since November. Citing sources, the report had said as part of a larger bailout plan, Jio may offer to acquire Paytm Payments Bank.
Jio Financial Services is introducing Device as a Service (DaaS) as a corporate financing model, allowing companies to lease devices instead of buying them to enhance cash flow and IT fleet management. The company, a carve-out from Reliance Industries, aims to create a new market model for consumer devices by offering finance and operating leases for assets like airfiber, phones, and laptops.
Jio Financial Services, a subsidiary of Reliance Industries, reported a net profit of Rs 293 crore for the October-December quarter, marking a decline from the Rs 668 crore reported in the previous quarter.