Jio Financial-Blackrock JV gets Sebi's approval to act as investment adviser; details here

Jio Financial Services Ltd (JFSL) on Wednesday said its 50:50 joint venture (JV) with BlackRock, named Jio BlackRock Investment Advisers Pvt Ltd, secured a certificate of registration from capital market regulator Sebi to act as an investment adviser.

"Please note that the Securities and Exchange Board of India, vide letter dated June 10, 2025, has granted a certificate of registration to Jio BlackRock Investment Advisers Pvt Ltd (JBIAPL) to act as an Investment Adviser. The company has received an intimation from JBIAPL on June 10, 2025," the company stated in a BSE filing.

Before this, Sebi gave its nod to JioBlackRock Asset Management Pvt Ltd — a 50:50 JV between JFSL and US-based BlackRock Inc — for starting mutual fund (MF) operations in India.

The venture aims to offer a digital-first investment platform catering to retail and institutional investors in India. Focussing on low-cost, institutional-grade products, JioBlackRock is expected to introduce a new era of investing by combining global expertise with local accessibility.

JioBlackRock plans to leverage the unique strengths of its two sponsors — JFSL's digital infrastructure and deep knowledge of the Indian market and BlackRock's global investment expertise, along with its industry-leading risk management platform, Aladdin.

Last checked, JFSL was up 0.30 per cent at Rs 303.55. At this price, it has climbed 15.46 per cent in a month.

A market expert maintained a positive stance on the counter from a long-term view while a few suggested that Rs 300 level would be a near-term hurdle for it.

Gaurang Shah, Senior VP at Geojit Financial, said, "We maintain a positive view on Jio Financial shares with a long-term target price of around Rs 350."

Jatin Gedia of ShareKhan recommended that investors should consider buying the stock on dips around Rs 276 levels. On the higher end, he expects the stock to hit a target of Rs 300 in the near term.

Sebi-registered independent research analyst AR Ramachandran said Jio Financial looked bullish but also overbought on daily charts with the next resistance at Rs 304

The scrip traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). Its 14-day relative strength index (RSI) came at 74.11. A level below 30 is defined as oversold while a value above 70 is considered overbought.

Promoters held a 47.12 per cent stake in the Reliance Industries Ltd (RIL)-backed entity as of March 2025.