Jio Financial Services stock has surged over 8 per cent on Friday, hitting a 52-week high at ₹347.

As of 11:13 am, the stock surged by 8.39 per cent on the NSE, trading at ₹328.25. 

The company, in January 2024, reported a 56 per cent decline in consolidated net profit to ₹294 crore for the third quarter ended December 2023 compared to the previous quarter.

Meanwhile, Reliance Industries stock, which is trading at ₹2,969.45, up by 0.20 per cent (as of 11:23 am), has also hit a 52-week high at ₹2,988.80.

Earlier this month, Reliance Industrial Investments and Holdings Limited (RIIHL), a wholly owned subsidiary of Jio Financial Services Limited, sold 100 per cent equity stake in Jio Infrastructure Management Services Limited (JIMSL) to Reliance Strategic Business Ventures Limited (RSBVL) for an aggregate cash consideration of ₹0.92 crore.