Jio Financial Services Ltd stock surged to a record on February 22. The stock rose nearly 5 percent, marking a 26 percent gain over the past month.
The Reliance Industries unit stock rose 4.74 percent to end trading at Rs 303.85 on NSE.
In its December quarter earnings, the company reported a net profit of Rs 293 crore, with a net interest income of Rs 269 crore for the quarter. Its total interest income was Rs 414 crore, and its total revenue was Rs 413 crore.
In January, Jio Financial Services and Blackrock Financial Management filed documents with the markets regulator, the Securities and Exchange Board of India (SEBI), to launch a mutual fund business in India.
Jio Financial Services was listed on the stock exchange on August 21, 2023. Since its listing, the stock has gained more than 22 percent.
The article originally appeared on Moneycontrol.