Jio Financial Services shares in focus after Rs 117 crore infusion in mutual fund business

Jio Financial Services (JFSL) will remain in focus on Wednesday, January 22, following the announcement that the company and its joint venture partner, US-based BlackRock , have infused Rs 117 crore into their mutual fund business . Both JFSL and BlackRock have subscribed to 5.85 crore equity shares, each priced at Rs 10, in Jio BlackRock Asset Management Private Limited, a 50:50 joint venture between the two entities. This investment totals Rs 117 crore, as per a regulatory filing. Jio BlackRock Asset Management Private Ltd submitted an application to SEBI, seeking approval. JFSL and BlackRock have made an initial investment of Rs 82.5 crore each in this entity. Another subsidiary Jio BlackRock Investment Advisers Private Ltd, a Joint Venture company of the company has informed that it has incorporated a wholly owned subsidiary named 'Jio BlackRock Broking Private Limited' on January 20, 2025, to carry on the business of broking subject to regulatory approvals. Also Read: Stocks in news: HDFC Bank, HUL, Tata Technologies, JSW Steel, PNB Housing Stock Trading Maximise Returns by Investing in the Right Companies By - The Economic Times, Get Certified By India's Top Business News Brand View Program Stock Trading Market 104: Options Trading: Kickstart Your F&O Adventure By - Saketh R, Founder- QuickAlpha, Full Time Options Trader View Program Stock Trading Technical Analysis for Everyone - Technical Analysis Course By - Abhijit Paul, Technical Research Head, Fund Manager- ICICI Securities View Program Stock Trading Stock Markets Made Easy By - elearnmarkets, Financial Education by StockEdge View Program Stock Trading Renko Chart Patterns Made Easy By - Kaushik Akiwatkar, Derivative Trader and Investor View Program Stock Trading Market 101: An Insight into Trendlines and Momentum By - Rohit Srivastava, Founder- Indiacharts.com View Program Stock Trading Markets 102: Mastering Sentiment Indicators for Swing and Positional Trading By - Rohit Srivastava, Founder- Indiacharts.com View Program Stock Trading Dow Theory Made Easy By - Vishal Mehta, Independent Systematic Trader View Program Stock Trading Market 103: Mastering Trends with RMI and Techno-Funda Insights By - Rohit Srivastava, Founder- Indiacharts.com View Program Stock Trading ROC Made Easy: Master Course for ROC Stock Indicator By - Souradeep Dey, Equity and Commodity Trader, Trainer View Program Stock Trading Heikin Ashi Trading Tactics: Master the Art of Trading By - Dinesh Nagpal, Full Time Trader, Ichimoku & Trading Psychology Expert View Program Stock Trading RSI Made Easy: RSI Trading Course By - Souradeep Dey, Equity and Commodity Trader, Trainer View Program Stock Trading Introduction to Technical Analysis & Candlestick Theory By - Dinesh Nagpal, Full Time Trader, Ichimoku & Trading Psychology Expert View Program Jio Financial Services Q3 earnings Jio Financial Services reported a consolidated net profit of Rs 295 crore for the quarter ended December 31, 2024, which was flat compared to Rs 294 crore posted in the year-ago period. The Mukesh Ambani-promoted company reported total revenue of Rs 438 crore in Q3FY25, marking a 6% increase from Rs 414 crore posted in the corresponding quarter of the previous financial year. The assets under management (AUM) stood at Rs 4,199 crore as of December 31, 2024, compared to Rs 1,206 crore in Q2FY25. Also Read: Sebi plans pre-listing trade to trip grey market moves Jio Finance shares performance On Tuesday, Jio Finance shares closed at Rs 260.1, down 5.7% on the BSE, while the benchmark Sensex declined 1.6%. The stock has declined 23% over the past six months but gained 6% in the last 12 months. The company’s market capitalization stands at Rs 1,65,276 crore. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel )