News Mania Desk/Agnibeena Ghosh/13th July 2024
Jio Financial Services Limited, a part of the Reliance Group, is set to capture investor attention as it convenes a board meeting on July 15, 2024, to approve its standalone and consolidated unaudited financial results for the first quarter of fiscal year 2024-25 (FY25). The announcement, made through an exchange filing last week, signals anticipation in the market about the company’s performance.
Market analysts are optimistic about Jio Financial Services’ Q1 FY25 results, citing expectations of robust growth in operating income. Experts predict a healthy quarter-on-quarter (QoQ) Profit After Tax (PAT) bolstered by strong investment income. They highlight the company’s strategic initiatives, including the launch of digital products and expansion of its ecosystem, aimed at fostering future growth.
Manish Chowdhury, Head of Research at StoxBox, commented, “We anticipate impressive Q1FY25 results from Jio Financial Services driven by strong operating income, particularly robust growth in investment income. The company’s strategic moves, such as introducing new financial products tailored for Jio’s extensive user base, are poised to drive significant growth in upcoming quarters.”
Moreover, Jio Financial Services recently obtained approval from the Reserve Bank of India (RBI) to operate as a core investment company, a move expected to enhance its ability to unlock the value of its investments. These developments position the company favorably amidst evolving market dynamics.
Turning to the technical outlook, Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi, highlighted the stock’s potential breakout scenario. “Jio Financial Services’ share price is approaching a critical juncture around ₹260 per share. A decisive breach above this level could propel the stock towards ₹290-295. Investors holding the stock are advised to maintain a stop loss at ₹205, with a potential upgrade to ₹240 upon breaching ₹260 for a near-term target of ₹295.”
For prospective buyers, Dongre suggested caution, advising them to wait for the breakout confirmation. “Fresh buyers should wait for the stock to surpass ₹260 convincingly before considering entry. Once this breakout occurs, initiating positions with a stop loss at ₹240 could target ₹295 in the near term,” he advised.
As Jio Financial Services prepares to disclose its Q1 FY25 financial results, investor sentiment remains cautiously optimistic, buoyed by strategic advancements and market expectations. However, potential investors are reminded to conduct thorough research and consider market risks before making investment decisions, especially amidst volatile market conditions.
In conclusion, while Jio Financial Services gears up for its Q1 FY25 earnings review, stakeholders await further insights from the upcoming board meeting, expecting clarity on the company’s financial performance and strategic direction in the evolving financial landscape.
