Latest news with #JioFinancial
New Indian Express
2 days ago
- Business
- New Indian Express
Jio BlackRock AMC announces leadership team, unveils digital-first investing platform
MUMBAI: Jio BlackRock AMC, the mutual fund arm of Jio Financial from the Reliance Group, has appointed the key leadership team with COO and a slew of other key positions. The company has also invited interested parties to register their interest in the AMC's digital-first offering. Jio BlackRock Asset Management is an equal joint venture between Jio Financial and the NYSE-listed BlackRock. Sid Swaminathan was appointed as the managing director and chief executive of JioBlackRock AMC when the company got the Sebi approval. The other key appointments include Gaurav Nagori, the chief operating officer; Amit Bhosale, the chief risk officer; Amol Pai, the chief technology officer; Biraja Tripathy, head of products; Disha Bhandary, head of human resources; Hemanti Wadhwa, head of legal, compliance and secretarial, chief compliance officer and company secretary; and Komal Narang as the chief client officer, the company said in a statement Monday. On the digital-first offering, which gives a preview of the value proposition as well as educational content, Swaminathan said on signing up, individuals can access material on the fundamentals of investing and other functions that will allow them to invest once the offering is launched. The early access empowers individuals with the knowledge to make informed investment choices, a company statement said. Over the coming months, JioBlackRock AMC intends to launch a range of investment products, including those that apply BlackRock's industry leading capabilities in data-driven investing, he added. Responding to the developments, the shares of Jio Financial rose nearly 4%, while benchmarks rose for the fourth day, adding around 35 bps over the Friday closing.
Hans India
2 days ago
- Business
- Hans India
Trade Setup June 10: Nifty breaks out of consolidation, eyeing 25,600
The Nifty index extended its winning streak for the fourth consecutive day, closing at an eight-month high amid strong market momentum. On the first trading day of the week, the Nifty opened with a sharp upside gap of 157 points, eventually settling above 25,100 levels to close the session at 25,103, marking a gain of 100 points. This is the highest closing level seen in 2025 so far. Market breadth was broadly positive, with 40 Nifty stocks closing in the green. Leading the charge were heavyweight stocks such as Jio Financial, Kotak Bank, and Bajaj Finance. The Nifty Bank index also reached new heights, surpassing the 57,000 mark for the second consecutive day, signaling robust investor interest in banking stocks. Midcap and Smallcap indices continued to outperform the benchmark, highlighting strong buying across broader market segments. The Nifty Smallcap index marked its sixth straight day of gains, reaching a fresh five-month high. The Nifty Midcap 100 Index rose by 1.13%, while the Nifty Smallcap 100 Index surged by 1.57%, reflecting investors' appetite for higher-risk, high-reward stocks. Sector-wise, all indices except Nifty Realty ended positive. Nifty PSU Banks, IT, and Oil & Gas sectors were the top performers, driven by strong demand. The Reserve Bank of India's recent decision to cut the repo rate by 50 basis points and the cash reserve ratio (CRR) by 100 basis points fueled gains in banks and NBFCs. Additionally, RBI's easing of gold loan norms triggered increased buying in gold financiers, with stocks rising between 4% and 8%. In the automobile sector, companies like Hero MotoCorp and Maruti Suzuki benefitted from the RBI rate cut announcement and registered notable gains. Tata Motors rose 1%, buoyed by an optimistic mid-term outlook. The company projects its commercial vehicle business to capture a 40% market share, with EBITDA margins in the teens and healthy free cash flow generation expected. On the downside, shares of food delivery players Swiggy Ltd. and Zomato's parent company Eternal Ltd. slipped 2-3% after reports surfaced about Rapido launching a food delivery pilot in Bengaluru later this month, potentially intensifying competition. Looking ahead, investors will focus on key economic data, including the US May Retail Inflation (CPI) report scheduled for Wednesday and India's CPI data due on Thursday. These indicators are expected to influence market sentiment in the near term. Expert Views: Market strategists remain optimistic about the Nifty's prospects. Siddhartha Khemka of Motilal Oswal highlighted that the market's gradual uptrend is supported by robust corporate earnings, RBI's liquidity measures, a favorable monsoon forecast, and potential progress in the US-India trade deal. Nagaraj Shetti from HDFC Securities noted, 'A sustained move above 25,200 could pave the way for a further rally toward 25,600.' Immediate support is seen at 24,900 levels. Rupak De of LKP Securities pointed out the index has decisively broken out from a consolidation phase, with strong support above the 50-day moving average. He added, 'A move above 25,350 may trigger further gains toward 25,700, while support lies at 24,850.' Corporate Updates to Watch: Capri Global has launched a Qualified Institutional Placement (QIP) to raise up to ₹2,000 crore, including a ₹500 crore upsizing option. Tech Mahindra announced that Lakshmanan Chidambaram will retire as President of Tech Mahindra Americas, effective June 30, 2025. Oberoi Realty confirmed the resignation of Pankaj Gupta, Chief Executive Officer - Commercial Real Estate, effective June 9, 2025. Jana Small Finance Bank has applied to the Reserve Bank of India for approval to voluntarily transition from a Small Finance Bank to a Universal Bank. With these developments, the Indian markets are poised for further action, keeping investors engaged ahead of crucial global and domestic cues.
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
