Good news for Mukesh Ambani, Jio BlackRock raises Rs 178000000000 through…, Jio Financial Services shares likely to touch…
New Delhi: JioBlackRock Mutual Fund has closed its maiden New Fund Offer (NFO ), raising Rs 17,800 crore (USD 2.1 billion) across three short-term debt schemes. The NFO, which ran from June 30 to July 2, received participation from over 90 institutional investors.
The three funds, JioBlackRock Overnight Fund, JioBlackRock Liquid Fund, and JioBlackRock Money Market Fund — mark the company's formal entry into India's mutual fund space, the company said in a press release. Jio Financial Services share price
Shares of Jio Financial Services opened lower at Rs 324.60 on the BSE, compared to the previous closing price of Rs 325.00. However, the stock quickly gained momentum, reaching an intraday high of Rs 329.65 — a rise of about 1.5 percent. By 11:46 AM, it was trading at ₹328.50, up 1.08 percent. Jio Financial Services share price target
Talking to ET Now, Market expert Rajesh explained the strategy that one should follow to execute trades in Jio Financial Services. 'Even on a 3-month basis, targets of Rs 360 can be expected, which is also the September high. There's good support around Rs 310. Investors can consider holding or even adding on dips,' he said.
He also sees a potential upside to Rs 385 in the medium term.
A market expert on ET NOW earlier said that the stock chart pattern of Jio Financial Services is showing strong bullish signals. According to the analyst, the stock can easily rise to Rs 350 in the near term.
If it manages to cross the Rs 350 levels, the counter may further surge up to Rs 400, the expert added.
He further added that the stock chart pattern of Jio Financial Services is showing strong bullish signals. According to the analyst, the stock can easily rise to Rs 350 in the near term.
If it manages to cross the Rs 350 levels, the counter may further surge up to Rs 400, the expert added.
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