Jio Financial Services is making waves this July, with the stock charging past ₹320 and holding steady near ₹328.05 in early trading. The latest leg of the rally is driven by the impressive ₹17,800 crore raised through Jio BlackRock’s debut mutual fund offering, a deal that’s quickly shifting the market’s perception of the company.
The narrative is shifting fast. What was once seen as a spin-off from Reliance is now emerging as a serious player in India’s growing financial services and investment space.
BlackRock-Jio NFO Collects ₹17,800 Cr in Debut Launch
Jio BlackRock’s first new fund offer (NFO) has drawn in ₹17,800 crore, according to fresh reports, making it one of the biggest initial fundraises in the Indian market this year. Analysts say the strong demand from both retail and institutional investors reflects rising confidence in Jio’s entry into asset management.
The success of the NFO gives Jio Financial more muscle as it expands deeper into the mutual fund business, and the stock is responding accordingly.
Jio Financial Share Price Technical Levels
- Current Price: ₹328.05
- Key Resistance: ₹328.30, followed by ₹347.65
- Support Levels: ₹321.60, then ₹298.20
- MACD: Strong bullish momentum, rising histogram
Market Outlook
Jio Financial is no longer in Reliance’s shadow, it’s building its own identity in the capital markets. The BlackRock JV deal and ₹17,800 crore inflow have cemented its place as a serious growth story in the fintech space.
If buyers continue to defend ₹321.60, the rally could extend to ₹347 and even test ₹363 in the coming weeks.