Jio Financial Services gains as its arm to allow customers to invest idle deposits in overnight MFs
JIO Financial Services is currently trading at Rs 312.25, up by 2.15 points or 0.69% from its previous closing of Rs 310.10 on the BSE.
The scrip opened at Rs 310.20 and has touched a high and low of Rs 313.45 and Rs 309.35 respectively. So far 651001 shares were traded on the counter.
The BSE group 'A' stock of face value Rs 10 has touched a 52-week high of Rs 363.00 on 27-Sep-2024 and a 52-week low of Rs 198.60 on 03-Mar-2025.
Last one week high and low of the scrip stood at Rs 322.45 and Rs 309.35 respectively. The current market cap of the company is Rs 197523.61 crore.
The promoters holding in the company stood at 47.12%, while Institutions and Non-Institutions held 27.17% and 25.71% respectively.
Jio Financial Services’ wholly owned subsidiary -- Jio Payments Bank is mulling to introduce an offering, which will auto-invest customers' idle deposits in overnight mutual funds (MFs) for higher returns.
The Jio Payments Bank was serving over 25 lakh customers and had a deposit base of over Rs 358 crore as of June this year. Payments banks are primarily aimed at offering payments and remittances to customers, and have restrictions including a Rs 2 lakh cap on the maximum permissible deposits.
Jio Financial Services (JFSL) operates its financial services business through its consumer facing subsidiaries namely Jio Finance (JFL), Jio Insurance Broking (JIBL) and Jio Payment Solutions (JPSL) and joint venture namely Jio Payments Bank (JPBL).
