Jio Financial Services shares gained 0.80 per cent to ₹326.05 on Monday at 10.25 am, marking the fifth consecutive session of gains for the Mukesh Ambani-owned stock.
The counter touched an intraday high of ₹331.90, extending its winning streak that has delivered a cumulative 13 per cent return over the past five trading sessions.
The rally follows a series of regulatory approvals that have strengthened investor confidence in the company’s financial services expansion.
On Friday, Jio BlackRock Broking, a wholly-owned subsidiary of Jio BlackRock Investment Advisers, received approval from the Securities and Exchange Board of India (SEBI) to operate as a brokerage firm. This approval complements earlier regulatory nods granted to Jio BlackRock Asset Management and Jio BlackRock Investment Advisers.
Jio BlackRock Investment Advisers operates as a 50:50 joint venture between Jio Financial Services and US-based BlackRock Inc. The approvals enable Jio Financial to offer a comprehensive investment solutions platform across multiple financial services segments.
The company has also strengthened its payments banking operations, infusing ₹190 crore into its payments bank subsidiary and acquiring State Bank of India’s entire 17.8 per cent stake in Jio Payments Bank for ₹104.54 crore.
Jio Financial shares have demonstrated strong momentum in recent months, gaining 14 per cent in June, 10 per cent in May, 14.5 per cent in April and 9.5 per cent in March. The stock trades at a market capitalization of ₹2,07,144 crore and is up 11 per cent year-to-date, with trading volumes of 198.83 lakh shares worth ₹653.09 crore on Monday.