Jio Financial Services Share Price Target 2024: JIOFIN stock forms Flag pattern; BUY?
jio financial services share price target 2024: jiofin stock forms flag pattern; buy?
Jio Financial Services Share Price Target 2024: Shares of billionaire and India’s richest man Mukesh Ambani-led Jio Financial Services marched northward on the bourses on Tuesday. Jio Financial Services’ stock opened with gains at Rs 381.70 on the BSE on Tuesday. The stock was quoted at the intra-day high of Rs 383.85, while it was seen at the day’s low of Rs 377.80 on the BSE.
Jio Financial Services Share Price Target 2024
Share market expert and ET Now Swadesh panellist has shared his strategy on the Jio Financial Services stock for the investors. The expert said that from a technical perspective, Jio Financial Services Stock has formed a good flag pattern, and it has broken out on the monthly chart. The market expert believes that since it has been trading within its opening channel for some time, there’s no need to worry about the stock. “The stock can definitely be held for the long term because their perspective is long term. So, I don’t think the stop loss will support them. But as soon as the stock starts trading above 395, a new momentum will come into the stock, which will show the minimum stock up to level 450 on the upper side,” said the analyst.
Jio Financial Services Q4 2024 Quarterly Results
Mukesh Ambani-led Jio Financial Services published their financial results for the fourth quarter of the FY23-24 on April 19, 2024. The company reported a surge of 5.7 per cent quarter on quarter in profit after tax (PAT) to Rs 311 crore as against Rs 294 crore posted in the corresponding quarter of the previous fiscal year. Company’s consolidated net Interest income (NII) in the quarter under review was reported at Rs 281 crore, up 4.3 per cent quarter on quarter from Rs 269 crore reported in the corresponding quarter of the previous fiscal year.
Jio Financial Services Share Price History
The Non-Banking Financial Company (NBFC) is a constituent of S&P BSE AllCap. According to BSE analytics, the Jio Financial stock has dropped 2.01 per cent in the last one week, while it soared 7.45 per cent in the last one month and 53.41 per cent in the last three months.
Shares of Jio Financial have sprinted 73.51 per cent in the last six months, as per BSE data.
Jio Financial stocks were quoted at their 52-week high of Rs 394.70 on the BSE, on April 23, 2024, while they were seen at the 52-week low of Rs 204.65 on October 23, 2023.
Jio Financial Services Ltd boasts a market cap of Rs 2,41,393.03 crore on the BSE as of April 30, 2024.
RISE with India – FOLLOW ET NOW WhatsApp channel!
https://www.whatsapp.com/channel/0029Va7OSzxA2pL8ezY1aw1K
ET NOW WhatsApp channel gives you all Stock Market Details, Money Making Ideas, IPO News, Mutual Funds SIP News, Income Tax and other news right on your mobile screen!