Q1 results 2024: Jio Financial share price will be in focus on Monday as the Reliance Group company has a fixed board meeting on 15th July 2024 to consider and approve the company's standalone and consolidated unaudited financial results. The Reliance Group company informed about the Q1 results 2024 date on Wednesday last week through an exchange filing. According to stock market experts, Jio Financial Services Limited is poised to deliver impressive Q1 results for FY25 on operating solid income. They predicted a healthy QoQ PAT for the company in Q1FY25.
Speaking on Jio Financial Services Q1 results 2024, Manish Chowdhury, Head of Research atStoxBox, said, "We believe that Jio Financial Services is poised to deliver impressive Q1FY25 results aided by its operating income, which is likely to show robust growth driven by strong investment income, which in turn should lead to healthy PAT growth on a sequential basis. Jio Financial Services continues to make strategic moves, such as launching digital products and expanding its ecosystem, with a clear focus on future growth. The company has announced plans to introduce products for loans against shares and mutual funds, leveraging Jio's extensive user base, which could be a significant growth driver in the upcoming quarters."
"Additionally, with the NBFC receiving RBI approval to become a core investment company, Jio Financial Services is well-positioned to unlock the value of its investments. Overall, we expect the company to report robust numbers in the forthcoming quarter," the StoxBox expert added.
Speaking on the technical outlook of Jio Financial share price, Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi, said, “Jio Financial Services share price is on the cusp of giving a fresh breakout at ₹260 apiece level. If the stock breaches this mark, the Reliance Group stock may touch a new peak by touching the ₹290 to ₹295 zone. So, those with Jio Finance shares in their portfolio are advised to hold the scrip, maintaining a stop loss at ₹205. If the stock breaches above ₹260 on a decisive basis, then one can upgrade one's trailing stop loss at ₹240 for the near-term target of ₹295.”
On the suggestion to the fresh buyers regarding Jio Financial shares, Ganesh Dongre said, “Fresh buyers are advised to wait for the breakout. Once the stock breaks out above ₹260, one can buy this Reliance Group stock for the near-term target of ₹295, maintaining a stop loss of ₹240 apiece.”
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
