Latest news with #JioFinancial
Yahoo
28-05-2025
- Business
- Yahoo
BlackRock Gets Regulatory Nod to Start Mutual Fund Business in India
BlackRock Inc. BLK and India-based Jio Financial have obtained approval from the Securities and Exchange Board of India to commence operations of their mutual fund joint venture (JV), Jio BlackRock Asset Management, plans to launch a broad range of investment products in the upcoming quarters based on a 'digital first' approach for retail and institutional products will apply BLK's capabilities in data-driven investing, including 'Aladdin.' Sid Swaminathan has been appointed as the managing director and chief executive at Jio BlackRock. In July 2023, BlackRock entered into a joint venture with Jio Financial, naming it Jio BlackRock, to revolutionize India's asset management industry. This 50:50 partnership combined the scale and investment expertise of BLK with the local market knowledge and digital infrastructure capabilities of Jio joint venture targeted an initial investment of $150 million each from BlackRock and Jio Financial. The primary goal is to democratize access to investment solutions and provide affordable, tech-enabled options for millions of investors in April 2024, both entities entered into a new joint venture to establish a wealth management and broking business in India to tap into the country's growing wealth business and rising retail investor base. This move aligns with BlackRock's growth strategy to strengthen its market share in domestic as well as global markets. The convergence of rising affluence, favorable demographics and digital transformation in India has created an incredible opportunity. Jio BlackRock aims to capitalize on this potential and reshape the investment March 2025, BlackRock acquired London-based Preqin for $3.2 billion to enhance its private markets offerings. In December 2024, the company announced a deal to acquire HPS Investment for $12.1 billion. In October 2024, it acquired Global Infrastructure Partners to enhance its infrastructural offerings and origination capabilities. In May 2024, BlackRock completed the acquisition of the remaining 75% stake in SpiderRock to boost its separately managed accounts BlackRock has established strategic alliances. Last September, it entered into a collaboration with Banco Santander to expand into infrastructure markets. Similarly, the company formed a partnership with Partners Group to introduce a multi-private markets model solution, boosting retail investors' accessibility to alternative investments. Shares of BlackRock have gained 1.5% against the industry's decline of 6.4% in the past three months. Image Source: Zacks Investment Research Currently, BLK carries a Zacks Rank #4 (Sell).You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Last week, The PNC Financial Services Group, Inc.'s PNC subsidiary, PNC Bank, agreed to acquire Aqueduct Capital Group. The acquisition is expected to close in mid-summer, subject to customary closing conditions. The terms of the deal were kept under planned acquisition will enhance the primary fund placement capabilities of PNC Financial's subsidiary Harris Williams, which is a global investment bank specializing in mergers and acquisitions and private capital advisory services, serving clients Capital One COF completed the acquisition of Discover Financial. The $35-billion transaction reshapes the landscape of the credit card industry, creating a behemoth (in terms of loan volume).At the time of the announcement (February 2024), it was noted that the Capital One-Discover merger will likely generate and deliver attractive accretion and returns for its shareholders. Expense synergies of $1.5 billion in 2027, coupled with network synergies of $1.2 billion, underscore the value-creation potential of the merger. The transaction will result in a more than 15% accretion to adjusted non-GAAP EPS by 2027. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The PNC Financial Services Group, Inc (PNC) : Free Stock Analysis Report BlackRock (BLK) : Free Stock Analysis Report Capital One Financial Corporation (COF) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Business Standard
27-05-2025
- Business
- Business Standard
Jio Financial stock jumps 4% as Jio BlackRock gets SEBI nod for MF biz
Jio Financial share price today: Shares of Jio Financial Services (JFSL) rose nearly 4 per cent to hit an intraday high of ₹292.3 on Tuesday. The uptick came after Jio BlackRock Asset Management, a 50:50 joint venture (JV) between Jio Financial Services and BlackRock received regulatory approval from the Securities and Exchange Board of India (Sebi) to commence operations as an investment manager for their mutual fund business in India. The stock was up 3.27 per cent at ₹290.95 compared to the previous day's close of ₹281.75 on the National Stock Exchange (NSE), as of 2:20 PM. In comparison, the benchmark Nifty50 index was trading at 24,730.45, down 270.7 points or 1.1 per cent. Jio Financial stock is down over 20 per cent from its 52-week high of ₹368.6, touched on May 27, 2024. Since the announcement of Jio Financial's March 2025 quarter (Q4 FY25) results on April 17, the stock has surged nearly around 16.7 per cent. JioBlackRock Asset Management aims to launch a range of investment products, including those that apply BlackRock's industry-leading capabilities in data-driven investing, over the coming months, the company said. Isha Ambani, non-executive director at JFSL said that our partnership with BlackRock is a powerful combination of global investment expertise and Jio's digital-first innovation. "Together, we are committed to making investing simple, accessible, and inclusive for every Indian. I am confident that JioBlackRock Asset Management will play a transformative role in shaping the future of financial empowerment in India," Ambani said. In addition, the company has appointed Sid Swaminathan as the managing director and chief executive officer of Jio BlackRock Asset Management. Jio Financial Q4 FY25 results highlights In Q4 FY25, Jio Financial reported a total income of ₹518 crore, up 25 per cent year-on-year (Y-o-Y) from ₹418 crore in the year-ago period. The company's pre-provision operating profit grew 18 per cent Y-o-Y to ₹374 crore compared to 317 crore in the corresponding quarter of the previous fiscal. Profit after tax (PAT) in the reported quarter stood at ₹316 crore, up from ₹311 crore in the year-ago period. About Jio Financial Services Jio Financial Services is a core investment company (CIC), registered with the Reserve Bank of India (RBI). It operates a full-stack financial services business through customer-facing entities, including Jio Finance, Jio Insurance Broking, Jio Payment Solutions, Jio Leasing Services, Jio Finance Platform and Service, and Jio Payments Bank. The company has also entered into a joint venture with BlackRock, to offer asset management, wealth management and broking services in India.
Economic Times
23-05-2025
- Business
- Economic Times
ET Market Watch: Sensex rises 769 pts higher, Nifty at 24,853 on FMCG boost and Asian cues
Transcript Indian markets closed higher Friday, rebounding after a volatile week. Sensex gained 769 pts to 81,721 Nifty rose 243 pts to 24,853 Market cap added ₹2.05 lakh crore! But… Nifty ended the week down 0.66%, with 3 of 5 sessions in the red. Top Nifty50 Gainers: Eternal, HDFC Life, Jio Financial, Power Grid, ITC, SBI Life, Nestle — all up 2–3% Top loser: Sun Pharma, down 1.7% Sector watch: FMCG led (+1.63%), followed by Financial Services (+1.15%) & Private Banks (+1.08%) Only Pharma dipped (-0.41%) Tech View: Nifty is consolidating between 24,700–25,000 Break above 25,000 = bullish trigger Fall below 24,500 = caution zone 'Buy-on-dips remains the strategy,' says Ajit Mishra, Religare Broking Global Cues: Asian markets up on U.S. bond yield relief Nikkei +0.47%, Hang Seng +0.24% Nasdaq up 0.28%, Dow and S&P flat Rupee Strengthens: Up 72 paise to 85.20/$ — supported by a weak dollar & FII inflows Expected range: 84.75–86 Crude Cools Off: Brent at $64.22, WTI at $60.99 — both down ~2% this week on OPEC+ hike fears
Time of India
23-05-2025
- Business
- Time of India
ET Market Watch: Sensex rises 769 pts higher, Nifty at 24,853 on FMCG boost and Asian cues
Transcript Indian markets closed higher Friday, rebounding after a volatile week. Sensex gained 769 pts to 81,721 Nifty rose 243 pts to 24,853 Market cap added ₹2.05 lakh crore! But… Nifty ended the week down 0.66%, with 3 of 5 sessions in the red. Top Nifty50 Gainers: Eternal, HDFC Life, Jio Financial, Power Grid, ITC, SBI Life, Nestle — all up 2–3% Top loser: Sun Pharma, down 1.7% Sector watch: FMCG led (+1.63%), followed by Financial Services (+1.15%) & Private Banks (+1.08%) Only Pharma dipped (-0.41%) Tech View: Nifty is consolidating between 24,700–25,000 Break above 25,000 = bullish trigger Fall below 24,500 = caution zone 'Buy-on-dips remains the strategy,' says Ajit Mishra, Religare Broking Global Cues: Asian markets up on U.S. bond yield relief Nikkei +0.47%, Hang Seng +0.24% Nasdaq up 0.28%, Dow and S&P flat Rupee Strengthens: Up 72 paise to 85.20/$ — supported by a weak dollar & FII inflows Expected range: 84.75–86 Crude Cools Off: Brent at $64.22, WTI at $60.99 — both down ~2% this week on OPEC+ hike fears
Mint
20-05-2025
- Business
- Mint
These 5 Nifty stocks are racing ahead. What's fuelling the growth?
The NSE Nifty index, more popularly known as the Nifty, is a widely followed stock market benchmark in India and abroad. Launched in 1996 with an initial base value of 1,000, the index comprises some of India's top companies across diverse sectors including banking, IT, retail, telecom, oil and gas, and automotive. Several prominent companies form part of the Nifty. From these, we have selected five companies that are experiencing rapid revenue growth. These stocks were filtered using Equitymaster's company screener. #1 Jio Financial Services First on the list is Jio Financial Services, part of Mukesh Ambani's Reliance group. The stock was included in the NSE Nifty this March, replacing Britannia Industries due to its superior market capitalization and liquidity. Jio Financial Services operates through subsidiaries including Jio Finance, Jio Insurance, and Jio Payments Bank. The company recently entered a joint venture with BlackRock to enter the asset management business. Jio Financial has witnessed strong income growth with a nearly 87% CAGR over the past three years. For FY25, assets under management (AUM) surged to ₹100.5 billion as of March 2025, up from ₹1.73 billion in March 2024 and ₹42 billion in December 2024. Looking ahead, Jio Financial expects robust growth driven by a range of innovative financial products and services. It is expanding its distribution reach across both digital and physical channels. The company's digital ecosystem has been further strengthened by integrating its offerings into the MyJio app. To support future growth and scale its diverse businesses, Jio Financial has infused additional equity of ₹13.4 billion into group entities, including Jio Finance, Jio Payments Bank, and the joint ventures with BlackRock for asset and wealth management. With strong backing and diversified offerings, the company is well positioned for growth in the coming years. #2 Eternal (formerly Zomato) Second is Eternal, formerly known as Zomato, which operates in the quick commerce and food delivery sectors. Like Jio Financial, Eternal was added to the NSE Nifty index in March. Read this | Nifty reshuffle: Zomato and Jio Financial could edge out Britannia and BPCL in India's benchmark index The company has recorded a compounded annual sales growth rate of 82.5% over the last three years. While it reported losses in the early years, Eternal has recently turned a corner. In Q4FY25, revenue from operations surged 63.75% year-on-year (YoY) to ₹58.33 billion. However, despite strong top-line growth, net profit declined sharply by 78% YoY to ₹390 million, down from ₹1,750 million in the same quarter last year. Going forward, Eternal plans rapid expansion through quick commerce store growth. It added 294 new stores in Q4 FY25 alone, bringing the total to 1,301 stores, with a target of about 2,000 stores within 6 to 9 months. Eternal's CEO Deepinder Goyal has taken direct control of the food delivery business to drive turnaround and accelerate growth. Challenges remain, including making Blinkit profitable and maintaining execution capabilities amid rapid expansion. #3 Trent Third on the list is Trent, a retail company under the Tata group. Trent operates retail chains like Westside, Zudio, Star Bazaar, and Landmark, spanning multiple formats across fashion, lifestyle, groceries, and entertainment. The company has posted a sales CAGR of 63% over the last three years, growing from ₹31,825 million in FY20 to ₹114,162 million in FY24. However, its net profit declined sharply for the quarter ending March 2025. Consolidated net profit for Q4FY25 was ₹3.18 billion, down 55% YoY from ₹7.04 billion in Q4FY24. It is important to note that the base quarter (Q4FY24) included an exceptional gain of ₹5.43 billion, which partly explains the decline in net profit. Despite this, Q4FY25 results showed strong revenue growth driven by store expansion and brand strength, especially in Zudio and Westside. Profitability was pressured by higher expenses and discounting. Read this | Zudio, Trent's greatest strength, may also be its biggest weakness The company is investing aggressively in growth, which is weighing on short-term profits but strengthening its long-term market positioning. #4 Indian Oil Corp Next is Indian Oil Corp. (IOC), India's largest oil marketing company, owned by the Government of India. IOC operates across the entire hydrocarbon value chain, including refining, pipeline transportation, petroleum product marketing, exploration, production, and petrochemicals. IOC's sales have grown at a CAGR of 44% over the last three years. In Q4 FY25, IOC's revenue from operations stood at ₹2,213.60 billion, slightly down 1% YoY. The company reported a consolidated net profit of ₹81.24 billion for Q4 FY25, a 58% YoY increase, driven by improved refining margins and cost efficiencies. Over the next few years, IOC plans significant capacity expansions at its Panipat, Vadodara, and Barauni refineries, aiming to increase total refining capacity from about 70 million metric tonnes per annum (MMTPA) to 88 MMTPA by 2030. On the petrochemicals front, it plans to triple its capacity. Volatile crude oil prices may impact profitability going forward. #5 Adani Enterprises Finally, Adani Enterprises, the flagship company of the Adani Group, operates across sectors such as mining and trading of coal and iron ore, airport operations, edible oils, road, rail and water infrastructure, data centers, solar PV manufacturing, and agri-output storage. Sales have grown at a CAGR of over 34% in the past three years. In Q4 FY25, consolidated revenue from operations declined 8% YoY to ₹269.66 billion from ₹291.80 billion in Q4 FY24. However, consolidated net profit surged to ₹38.45 billion in Q4 FY25, compared to ₹4.51 billion in Q4 FY24. Adani Enterprises plans to grow its portfolio across infrastructure, energy transition (including green hydrogen and renewables), airports, data centres, roads, and mining services. Conclusion While past growth rates provide useful context, they should be supplemented with analysis of volatility, scale, industry conditions, and company fundamentals to form realistic expectations about future performance and valuation. Relying solely on past growth can lead to overly optimistic assumptions that overlook risks, market saturation, or changes in company strategy. Growth often slows as companies mature, so it's important to evaluate all aspects before investing. Investors should consider fundamentals, corporate governance, and stock valuations as key factors when conducting due diligence before making investment decisions. Happy Investing. Disclaimer: This article is for information purposes only. It is not a stock recommendation and should not be treated as such. This article is syndicated from
