Jio Financial shares jump 5% as Jio BlackRock gets Sebi nod to operate as stock broker

Shares of Jio Financial Services Ltd surged on Friday after the company secured a certificate of registration from market regulator Sebi for its joint venture, Jio BlackRock Broking, allowing it to operate as a Stock Broker and Clearing Member. The stock rose 4.91 per cent to Rs 327.75, marking its fourth consecutive session of gains. Jio BlackRock Investment is a 50:50 joint venture between the Jio Financial and US-based BlackRock.

"The Securities and Exchange Board of India (SEBI) has granted a certificate of registration dated June 25, 2025, to Jio BlackRock Broking Private Limited (JBBPL), permitting it to operate as a Stock Broker and Clearing Member. The company received an intimation from JBBPL regarding this development on June 26, 2025," Jio Financial said in a statement.

Following today's breakout, Jio Financial shares could first target Rs 345, with the next potential level at Rs 400, according to Sebi-registered analyst Mitesh Panchal. He advised investors to maintain a stop loss at Rs 290.

Technically, 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 75.94. A level below 30 is defined as oversold while a value above 70 is considered overbought.

The company's stock has a price-to-earnings (P/E) ratio of 374.81 against a price-to-book (P/B) value of 8. Earnings per share (EPS) stood at 0.83 with a return on equity (RoE) of 2.13. According to Trendlyne data, Jio Financial has a one-year beta of 1.5, indicating high volatility.

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