Jio Financial share price gains 2% as Reliance group NBFC to consider first-ever dividend on Thursday

Ahead of the fourth quarterly results from Reliance's non-bank financial institution (NBFC) division, Jio Financial share price is in focus today. The Jio Financial share price increased by more than 2% during Tuesday’s trading session, following the announcement from the Reliance NBFC arm that it will assess its first dividend on Thursday, April 17, 2025. On that same day, the Reliance NBFC will evaluate and approve its audited financial results, both on a standalone and consolidated basis, for the quarter and year ending March 31, 2025.

“… recommend dividend on equity shares of the Company for the financial year ended March 31, 2025,” the NBFC said in an exchange filing.

Jio Financial performance

Jio Financial Services reported that its consolidated profit remained unchanged at ₹295 crore for the third quarter ended December 2024. In the same quarter of the previous fiscal year, the company recorded a consolidated net profit of ₹294 crore, according to a regulatory filing by Jio Financial Services.

In contrast, the company’s consolidated net profit was ₹689 crore in the second quarter of the current fiscal year.

Total income rose to ₹449 crore, up from ₹414 crore in the third quarter of the prior fiscal year. Total expenses also saw a year-on-year increase, reaching ₹131 crore compared to ₹99 crore in the same quarter the previous year.

For the nine months ending December, the company's net profit saw a slight increase to ₹1,296 crore, compared to ₹1,294 crore during the same period last year.

Jio Financial Services, which was separated from Reliance Industries Ltd, operates in the sectors of investment and financing, insurance broking, payment banking, payment aggregation, and payment gateway services.

Impact of Dividend Announcements on Stock Prices

Jio Financial share price today opened at an intraday high of ₹235.85 apiece on the BSE. The stock touched an intraday low of ₹232.50 per share.

Anshul Jain, Head of Research at Lakshmishree Investment and Securities, stated that Jio Financial share price has corrected nearly 49% in just 45 weeks and is now consolidating in a rectangle pattern with boundaries at ₹200 and ₹235. A breakout above ₹235 will confirm the rectangle breakout and trigger fresh momentum, as per Jain.

“The immediate target for this breakout stands at ₹262, while the pattern’s full measured move points towards ₹298. Traders should watch for strong volume confirmation on the breakout, as it will indicate institutional participation and strengthen the bullish case,” Jain said.

Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One stated that Jio Finance share price has seen gap up opening and is trading around it's crucial 50DEMA around ₹230 levels; a positive close above this level would be crucial which can push prices towards 89EMA at ₹250. “On the flip side, ₹220 is immediate support,” Bhosale said.

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