Jio Financial Services hits ₹2 lakh crore market cap, a 1st: What's happening - Hindustan Times
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Jio Financial Services hits 2 lakh crore market cap, a 1st: What's happening

Feb 23, 2024 01:27 PM IST

Jio Financial Services share: As of now, 39 firms are trading above ₹2 lakh crore market capitalisation on local stock exchanges.

Jio Financial Services share: In a first, Jio Financial Services Ltd's market capitalisation exceeded 2 lakh crore driven by a 35 per cent surge in its share price this year while Reliance Industries hit a record high today (February 23). Shares of Jio Financial Services rose 8 percent to a record 326 as the stock gained in the fifth straight session. During this period, the stock has increased nearly 17 per cent with mcap of 2.08 lakh crore.

Reliance Industries Chairman, and Managing Director Mukesh Ambani.(ANI)
Reliance Industries Chairman, and Managing Director Mukesh Ambani.(ANI)

As of now, 39 firms are trading above 2 lakh crore market capitalisation on local stock exchanges. Reliance Industries is leading the list with a market cap of 20.05 lakh crore, followed by Tata Consultancy Services 14.78 lakh crore and HDFC Bank 10.78 lakh crore.

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In December quarter earning, Jio Financial Services reported a net profit of 293 crore, a net interest income of 269 crore, total interest income of 414 crore and total revenue at 413 crore.

Earlier this year, Jio Financial Services and Blackrock Financial Management filed documents with Sebi to launch a mutual fund business in India. Since Jio Financial Services' listing on the stock exchange on August 21, 2023, the stock has gained more than 21 per cent.

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