Jio Financial Services: JFSL stock up 60% from March low; more upside ahead?
Jio Financial Services settled at Rs 322 apiece on Tuesday. The stock is up 60 per cent over Rs 200-odd level it was trading at in early March. Geojit's target suggests a 12 per cent upside potential over the prevailing price.
- Jul 30, 2025,
- Updated Jul 30, 2025 9:09 AM IST
Shares of Jio Financial Services Ltd (JFSL) may have rallied 60 per cent from March low, the scrip still offers upside potential, fresh target price by Geojit Financial Services suggests.
The brokearge has upgraded its rating on the JFS stock to 'Buy' based on 1.8 times estimated FY27 book value per share, with a revised target price of Rs 361.
Jio Financial Services settled at Rs 322 apiece on Tuesday. The stock is up 60 per cent over Rs 200-odd level it was trading at in early March. Geojit's target price suggests a 12 per cent upside potential over the prevailing price.
Geojit said JFSL demonstrated healthy financial performance in the June quarter, marked by robust business growth and strong operational execution.
"The company’s prudent capital allocation strategy is focused on long-term value creation for customers, shareholders and stakeholders, underscoring a commitment to sustainable growth and profitability. Through strategic planning, cost structure optimization and prudent capital allocation, JFSL is well-positioned to capitalize on the opportunities," it said.
Geojit noted that Jio Financial's joint venture, Jio BlackRock Asset Management Pvt Ltd, has received regulatory clearance to start operations in May 2025. It quickly launched its first new fund offering (NFO), which was met with enthusiasm from institutional and retail investors.
"The NFO raised Rs 17,800 crore, making it one of the largest cash and debt fund NFOs in the country," it said.
It highlighted that JFSL is focusing on secured lending in FY26. This, it said, shows its commitment to prudent risk management and long-term value creation.
"The strategy has yielded impressive results, with Jio Credit’s AUM growing from Rs 217 crore in Q1FY25 to Rs 11,665 crore in Q1FY26 on the back of a diverse range of lending products and an extensive distribution network," it said.
Geojit said Jio Payment Bank Ltd’s customer base has surged to 25.8 lakh in Q1FY26 from 9.6 lakh in Q1FY25, rising 168.8 per cent.
"Deposits increased 206 per cent to Rs 358 crore as of June 2025. This robust expansion underscores the bank’s commitment to provide accessible and inclusive banking services across the country," it said.
JFSL, meanwhile, has acquired Jio Payment Bank by purchasing a 14.96 per cent stake from State Bank of India for Rs 105 crore.
The payment bank’s business correspondent network has seen a dramatic expansion, with the number of touchpoints increasing to over 50,000 from around 2,300 in Q1FY25, further deepening its reach in rural and underserved markets.
"JFSL’s digital platforms continue to gain traction, driven by a highly engaged customer base. Notably, the quarter saw an average of 8.1 million monthly active users interacting with a diverse array of financial products and services on the Jio Finance and MyJio apps," Geojit said.
Year-to-date, the JFSL scrip is up 6 per cent.
Shares of Jio Financial Services Ltd (JFSL) may have rallied 60 per cent from March low, the scrip still offers upside potential, fresh target price by Geojit Financial Services suggests.
The brokearge has upgraded its rating on the JFS stock to 'Buy' based on 1.8 times estimated FY27 book value per share, with a revised target price of Rs 361.
Jio Financial Services settled at Rs 322 apiece on Tuesday. The stock is up 60 per cent over Rs 200-odd level it was trading at in early March. Geojit's target price suggests a 12 per cent upside potential over the prevailing price.
Geojit said JFSL demonstrated healthy financial performance in the June quarter, marked by robust business growth and strong operational execution.
"The company’s prudent capital allocation strategy is focused on long-term value creation for customers, shareholders and stakeholders, underscoring a commitment to sustainable growth and profitability. Through strategic planning, cost structure optimization and prudent capital allocation, JFSL is well-positioned to capitalize on the opportunities," it said.
Geojit noted that Jio Financial's joint venture, Jio BlackRock Asset Management Pvt Ltd, has received regulatory clearance to start operations in May 2025. It quickly launched its first new fund offering (NFO), which was met with enthusiasm from institutional and retail investors.
"The NFO raised Rs 17,800 crore, making it one of the largest cash and debt fund NFOs in the country," it said.
It highlighted that JFSL is focusing on secured lending in FY26. This, it said, shows its commitment to prudent risk management and long-term value creation.
"The strategy has yielded impressive results, with Jio Credit’s AUM growing from Rs 217 crore in Q1FY25 to Rs 11,665 crore in Q1FY26 on the back of a diverse range of lending products and an extensive distribution network," it said.
Geojit said Jio Payment Bank Ltd’s customer base has surged to 25.8 lakh in Q1FY26 from 9.6 lakh in Q1FY25, rising 168.8 per cent.
"Deposits increased 206 per cent to Rs 358 crore as of June 2025. This robust expansion underscores the bank’s commitment to provide accessible and inclusive banking services across the country," it said.
JFSL, meanwhile, has acquired Jio Payment Bank by purchasing a 14.96 per cent stake from State Bank of India for Rs 105 crore.
The payment bank’s business correspondent network has seen a dramatic expansion, with the number of touchpoints increasing to over 50,000 from around 2,300 in Q1FY25, further deepening its reach in rural and underserved markets.
"JFSL’s digital platforms continue to gain traction, driven by a highly engaged customer base. Notably, the quarter saw an average of 8.1 million monthly active users interacting with a diverse array of financial products and services on the Jio Finance and MyJio apps," Geojit said.
Year-to-date, the JFSL scrip is up 6 per cent.