Shares of Jio Financial Services climbs 4% post hefty earnings in March quarter

By Team Startupcity  |  Monday, 22 April 2024, 12:18 IST

Shares of Jio Financial Services climbs 4% post hefty earnings in March quarter
The shares of JFS - Jio Financial Services scales 4 percent following its earnings in the March quarter. 
The standardized approach to constructing an unsecured portfolio for loan is a practical move from the viewpoint of harnessing build-up at a level of system & analysts, who seems optimistic on the new initiatives of NBFC, the company said.  
Regarding this, Arihant Capital Markets says, "The Company has displayed robust performance during the FY24, led by the increase in the interest income, dividend, and fees and commission income. We remain positive on the future prospects of the company”.
Motilal Oswal, a prominent online trading & investment broker in India says that JFS is creating inroads into the realm of vendor funding & insurance distribution”.
It also said, the new business AMC & Leasing have also been intellectualized & noticed that JFS - Jio Financial services has publicized the development of its collaboration with BlackRock to present wealth management & brokerage services. Also, a specialized unified app for Jio Financial is being developed & soon to be presented to the customers. 
Speaking on the concall highlights of JFL, it says, "Necessary framework and rule engines have been set up for each business lines. Jio brand, capital and customer adjacency with its ecosystem: These three key strengths will support sustainable growth in the future”.
Simlilarly, Nomura India, a financial holding company says, "In secured products, JFL (Jio Finance Ltd, lending NBFC arm of JFSL) has gone live with vendor financing to address the working capital needs of suppliers. It plans to launch other secured products such as Home Loans, Loan against Property, Loan Against Mutual Funds going ahead”.

CURRENT ISSUE

BEST STARTUPS TO WORK FOR

siliconindia