Jio Financial shares down nearly 24% in six months; what investors can do?
The Insurance Regulatory and Development Authority of India (IRDAI) has granted a certificate of registration to Allianz Jio Reinsurance Ltd (AJRL) to commence reinsurance business.
- Mar 20, 2026,
- Updated Mar 20, 2026 9:10 AM IST
Shares of Jio Financial Services Ltd (JFSL) slipped 3.54 per cent to close at Rs 239.45 on Thursday. At this level, the stock has corrected 23.71 per cent over the past six months.
On the operational front, the company's arm recently introduced UPI-based cash withdrawal services. "Jio Payments Bank Ltd (JPBL), a wholly-owned subsidiary of Jio Financial Services Ltd has introduced UPI-based cash withdrawal through its Business Correspondent (BC) touchpoints," the company stated in an exchange filing.
"The feature enables customers, particularly in rural and semi-urban areas, to conveniently withdraw cash by simply scanning a UPI QR code and authorising the transaction through their UPI application, eliminating the need for debit cards or access to traditional ATM infrastructure," JFSL added.
"By enabling cardless cash withdrawals at BC touchpoints, the initiative bridges the gap between digital payments and physical cash access, while providing first-time digital users with an assisted and secure way to experience UPI transactions," it further stated.
In another development, the Insurance Regulatory and Development Authority of India (IRDAI) has granted a certificate of registration to Allianz Jio Reinsurance Ltd (AJRL) to commence reinsurance business.
Kranthi Bathini, Equity Strategist at WealthMills Securities, said JFSL has been expanding into mutual funds, insurance and other digital infrastructure products, and advised long-term investors to hold the stock.
Equinomics highlighted that Jio Financial's joint venture with Allianz Europe BV has received regulatory clearance to commence reinsurance operations in India. "We consider this development as a highly positive development for JFSL. In our view, this reinsurance industry is not likely to see entry of huge number of private players and hence, we consider JFSL, backed by Reliance Group, can make a significant dent in this business. We find JFSL as a highly attractive stock and hence, we reiterate our 'BUY' recommendation," it said.
From a technical perspective, support on the counter could be seen in the Rs 235-220 range.
Kunal Kamble, Senior Technical Research Analyst at Bonanza, said, "Jio Financial is trading in a clear downtrend on daily charts. A descending trendline continues to act as strong resistance near Rs 260–280. Immediate support is placed near Rs 235–220. Any pullback towards resistance may attract selling pressure. A bullish reversal is only likely if the price breaks and sustains above Rs 260 with volume support."
Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, noted, "On the levels front, Rs 230-225 is likely to cushion any upcoming blips, while the sacrosanct support is placed around the Rs 215 zone. On the flip side, the intermediate resistance is seen around Rs 252-254 and an authoritative surge is likely to trigger momentum in the counter."
According to AR Ramachandran, a Sebi-registered research analyst at Tips2trades, "Jio Financial's stock has strong support at Rs 235. A daily close above the resistance of Rs 246 could lead to an upside target of Rs 271.6 in the near term."
Shares of Jio Financial Services Ltd (JFSL) slipped 3.54 per cent to close at Rs 239.45 on Thursday. At this level, the stock has corrected 23.71 per cent over the past six months.
On the operational front, the company's arm recently introduced UPI-based cash withdrawal services. "Jio Payments Bank Ltd (JPBL), a wholly-owned subsidiary of Jio Financial Services Ltd has introduced UPI-based cash withdrawal through its Business Correspondent (BC) touchpoints," the company stated in an exchange filing.
"The feature enables customers, particularly in rural and semi-urban areas, to conveniently withdraw cash by simply scanning a UPI QR code and authorising the transaction through their UPI application, eliminating the need for debit cards or access to traditional ATM infrastructure," JFSL added.
"By enabling cardless cash withdrawals at BC touchpoints, the initiative bridges the gap between digital payments and physical cash access, while providing first-time digital users with an assisted and secure way to experience UPI transactions," it further stated.
In another development, the Insurance Regulatory and Development Authority of India (IRDAI) has granted a certificate of registration to Allianz Jio Reinsurance Ltd (AJRL) to commence reinsurance business.
Kranthi Bathini, Equity Strategist at WealthMills Securities, said JFSL has been expanding into mutual funds, insurance and other digital infrastructure products, and advised long-term investors to hold the stock.
Equinomics highlighted that Jio Financial's joint venture with Allianz Europe BV has received regulatory clearance to commence reinsurance operations in India. "We consider this development as a highly positive development for JFSL. In our view, this reinsurance industry is not likely to see entry of huge number of private players and hence, we consider JFSL, backed by Reliance Group, can make a significant dent in this business. We find JFSL as a highly attractive stock and hence, we reiterate our 'BUY' recommendation," it said.
From a technical perspective, support on the counter could be seen in the Rs 235-220 range.
Kunal Kamble, Senior Technical Research Analyst at Bonanza, said, "Jio Financial is trading in a clear downtrend on daily charts. A descending trendline continues to act as strong resistance near Rs 260–280. Immediate support is placed near Rs 235–220. Any pullback towards resistance may attract selling pressure. A bullish reversal is only likely if the price breaks and sustains above Rs 260 with volume support."
Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, noted, "On the levels front, Rs 230-225 is likely to cushion any upcoming blips, while the sacrosanct support is placed around the Rs 215 zone. On the flip side, the intermediate resistance is seen around Rs 252-254 and an authoritative surge is likely to trigger momentum in the counter."
According to AR Ramachandran, a Sebi-registered research analyst at Tips2trades, "Jio Financial's stock has strong support at Rs 235. A daily close above the resistance of Rs 246 could lead to an upside target of Rs 271.6 in the near term."