Key Points
Shares of India's newest NBFC Jio Financial Services (JFSL) on Monday jumped around 4% to day's high at Rs 233.5 after the company reported 101% quarter-on-quarter (QoQ) growth in its consolidated profit at Rs 668 crore in the September quarter...
As of Sep-end, JFSL's consolidated total assets stood at Rs 119,598 crore while the consolidated net worth was Rs 115,631 crore...
JFSL holds a 3.56% stake in RIL through its 100% subsidiary, Reliance Industrial Investments and Holdings Ltd (RIIHL), and another 2.54% stake through associates, where RIIHL is the sole beneficiary...
Sanjiv Bhasin of IIFL Securities said even though Jio is an expensive stock (with a market capitalisation of Rs 1.4 lakh crore), it is going to be an outperformer on the back of pedigree management, cross-selling opportunities, etc...
"India is on the cusp of savings being capitalised into stock market and other instruments and that financialisation is going to be widespread and the bigger players are definitely going to get the largest share of the cake but make no mistake, NBFCs are being an outperformer..
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