Jio Financial Services share price

Jio Financial Services Share Price Rollercoaster: Q3 Results Impact

Jio Financial Services share price takes a dip after Q3 results, creating buzz in the market.

Jio Financial Services, a subsidiary of Reliance Industries, experienced a rollercoaster ride in the stock market as its share price plummeted over 6% following the release of its Q3 results. The company's net interest income (NII) surged by 44% quarter-on-quarter to ₹269.08 crore in Q3FY24, but the net profit declined to Rs 293 crore for the October-December period. Despite a balanced approach, analysts from Jefferies maintained a target price of Rs 9470 for Bajaj Finance, highlighting limited risk. Jio Financial Services saw a 5.9% drop in share prices, closing at INR 251 on the NSE after the Q3 FY24 announcement.

In a significant move, investors actively participated in trading sessions, with a notable delivery volume of 3.39 crore shares on Monday, marking a 109% increase. The market reaction to Jio Financial Services' Q3 results reflected a mix of excitement and concern among stakeholders, showcasing the dynamic nature of financial markets.