Latest news with #HiteshSethia
India Gazette
2 days ago
- Business
- India Gazette
JioBlackRock Broking receives SEBI approval to launch brokerage business
Mumbai (Maharashtra) [India], June 27 (ANI): JioBlackRock Broking, a wholly owned subsidiary of Jio BlackRock Investment Advisers, has received regulatory approval from the Securities and Exchange Board of India (SEBI) to commence operations as a brokerage firm in India, a company statement said Friday. JioBlackRock Broking aims to bring affordable, transparent, and technology-driven execution capabilities for Indian investors. The broking entity's parent company, JioBlackRock Investment Advisers, is a 50:50 joint venture between Jio Financial Services Limited and BlackRock Inc. Along with the recent regulatory approvals received by Jio BlackRock Asset Management and Jio BlackRock Investment Advisers to commence operations, the receipt of the broking license enables the Jio BlackRock joint venture to offer holistic investment solutions in India. Marc Pilgrem, Managing Director and CEO of Jio BlackRock Investment Advisers, said: 'We are delighted to receive SEBI's final approval for JioBlackRock Broking, which moves us closer to contributing to India's continued evolution from a nation of savers to a nation of investors. With JioBlackRock Investment Advisers, we will be able to offer personalised advice to retail investors. Now with brokerage, we will also bring an execution platform for self-directed investors.' Hitesh Sethia, Managing Director and CEO, Jio Financial Services Limited, said: 'These are exciting times for us. Even as JioBlackRock's Asset Management arm introduces innovative mutual funds to the market, and JioBlackRock Investment Advisers prepares to launch operations, the approval for the broking entity adds another dimension to our strategy of democratising investments in India, through easily accessible and digital-first solutions.' Rachel Lord, Head of International at BlackRock, said: 'JioBlackRock was founded to provide tech-enabled access to capital markets and affordable, innovative investment solutions to millions of investors in India. This third approval from SEBI completes the range of offerings of our joint venture. Through these three entities, JioBlackRock will provide a full suite of investment services, enabling Indian investors to work towards their financial goals.' Jio BlackRock Investment Advisers Private Limited (JioBlackRock Investment Advisers) is a 50:50 joint venture between Jio Financial Services Limited (JFSL) and BlackRock Inc. (BlackRock) and received regulatory approval from SEBI and BSE to commence operations as an Investment Adviser in India. JioBlackRock Investment Advisers will combine BlackRock's global investment, asset allocation and technology expertise with JFSL's digital reach and scale to uniquely provide accessible, affordable, and personalised investment solutions to the people of India. (ANI)
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Business Standard
2 days ago
- Business
- Business Standard
Jio Financial stock hits 6-mth high, soars 5% on heavy volumes; here's why
Jio Financial share price rises on Friday: BlackRock Broking Private Limited has received regulatory approval from the Sebi to commence operations as a brokerage firm in India. SI Reporter Mumbai Jio Financial Services share price Shares of Jio Financial Services (JFSL) hit a six-month high of ₹327.75, as they surged 5 per cent on the BSE in Friday's intra-day trade amid heavy volumes following the news that the market regulator - the Securities and Exchange Board of India (Sebi) granted a certificate of registration to Jio BlackRock Broking Private Limited to act as a stock broker/clearing member. The stock price of JFSL was trading at its highest level since December 18, 2024. In the past six trading days, the stock has rallied 15 per cent. It has bounced back 65 per cent from its 52-week low level of ₹198.60, which touched on March 3, 2025. The stock had hit a 52-week high of ₹363 on September 27, 2024. At 11:18 AM; JFSL was quoting 3.6 per cent higher at ₹323.55, as compared to 0.2 per cent gain in the BSE Sensex. The average trading volumes at the counter jumped nearly 1.5 times, with a combined 31.19 million shares changing hands on the NSE and BSE. Why are Jio Financial Services shares in focus? JFSL today announced that the Sebi has granted a certificate of registration dated June 25, 2025 to Jio BlackRock Broking Private Limited (JioBlackRock Broking), to act as a stock broker / clearing member. JioBlackRock Broking said it aims to bring affordable, transparent, and technology-driven execution capabilities for Indian investors. The broking entity's parent company, JioBlackRock Investment Advisers is a 50:50 joint venture between JFSL and BlackRock Inc. Along with the recent regulatory approvals received by Jio BlackRock Asset Management Private Limited and JioBlackRock Investment Advisers to commence operations, receipt of the broking license enables the JioBlackRock joint venture to offer holistic investment solutions to the people of India, the company said. Earlier, on June 11, the company said the Sebi, vide letter dated June 10, 2025, granted certificate of registration to Jio BlackRock Investment Advisers Private Limited (JBIAPL) to act as an investment adviser. Further, the Sebi, vide letter dated May 26, 2025, has granted certificate of registration to 'Jio BlackRock Mutual Fund'; and approval to Jio BlackRock Asset Management Private Limited to act as the Asset Management Company for 'Jio BlackRock Mutual Fund'. 'These are exciting times for us. Even as JioBlackRock's Asset Management arm introduces innovative mutual funds to the market, and JioBlackRock Investment Advisers prepares to launch operations, the approval for the broking entity adds another dimension to our strategy of democratising investments in India, through easily accessible and digital-first solutions,' Hitesh Sethia, Managing Director and CEO, JFSL said. FY25 performance of JFSL and outlook JFSL reported a healthy pre-provisioning operating profit of ₹1,594 crore for FY2025, including investment income and dividend income. To support growing scale across businesses, JFSL also made equity investments of ₹1,346 crore in group entities including Jio Finance, Jio Payments Bank, and the joint ventures with BlackRock for asset management and wealth management, to enable these entities expand their market presence Driven by significant technological advancements this past year, Jio Payment Solutions, the subsidiary of JFSL, is strategically positioned to pursue a diversified distribution strategy - micro and small merchants onboarding through JioBharat Phones, dedicated engagement channel for large clients, and leveraging the group's ecosystem to acquire enterprise clients. JPSL's focus remains on profitable growth while expanding margins and maintaining unit-level profitability. ALSO READ | About Jio Financial Services Jio Financial Services (JFSL) is a Core Investment Company (CIC), registered with the Reserve Bank of India. JFSL is a new-age institution, which operates a full-stack financial services business through customer-facing entities, including Jio Finance Limited, Jio Insurance Broking Limited, Jio Payment Solutions Limited, Jio Leasing Services Limited, Jio Finance Platform and Service Limited, and Jio Payments Bank Limited.
Time of India
2 days ago
- Business
- Time of India
Jio BlackRock Broking receives Sebi approval to commence brokerage business
Jio BlackRock Broking Pvt Ltd. has received regulatory approval from the Securities and Exchange Board of India (SEBI) to commence operations as a brokerage firm in India. The company is a wholly owned subsidiary of Jio BlackRock Investment Advisers . The company aims to bring affordable, transparent, and technology-driven execution capabilities for Indian investors . The broking entity's parent company, JioBlackRock Investment Advisers, is a 50:50 joint venture between Jio Financial Services Limited and BlackRock Inc. (BlackRock). by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Join new Free to Play WWII MMO War Thunder War Thunder Play Now Undo Along with the recent regulatory approvals received by Jio BlackRock Asset Management Private Limited and Jio BlackRock Investment Advisers to commence operations, receipt of the broking license enables the Jio BlackRock joint venture to offer holistic investment solutions to the people of India, said a release. 'We are delighted to receive SEBI's final approval for JioBlackRock Broking, which moves us closer to contributing to India's continued evolution from a nation of savers to a nation of investors. With JioBlackRock Investment Advisers, we will be able to offer personalised advice to retail investors. Now with brokerage, we will also bring an execution platform for self-directed investors,' said Marc Pilgrem, Managing Director and CEO of Jio BlackRock Investment Advisers Private. 'These are exciting times for us. Even as Jio BlackRock's Asset Management arm introduces innovative mutual funds to the market, and JioBlackRock Investment Advisers prepares to launch operations, the approval for the broking entity adds another dimension to our strategy of democratising investments in India, through easily accessible and digital-first solutions,' said Hitesh Sethia, Managing Director and CEO, Jio Financial Services. Live Events 'Jio BlackRock was founded to provide tech-enabled access to capital markets, and affordable, innovative investment solutions, to millions of investors in India. This third approval from SEBI completes the range of offerings of our joint venture. Through these three entities, JioBlackRock will provide a full suite of investment services, enabling Indian investors to work towards their financial goals,' said Rachel Lord, Head of International at BlackRock. Last month, JioBlackRock Asset Management received SEBI approval to commence its mutual fund business.
Yahoo
12-06-2025
- Business
- Yahoo
Jio BlackRock gets nod to operate as investment adviser in India
Jio BlackRock Investment Advisers, the joint venture between Jio Financial Services and BlackRock, has obtained a certificate of registration from the Securities and Exchange Board of India (SEBI) to operate as an investment adviser. In a regulatory filing, the company announced, "Please note that the Securities and Exchange Board of India, vide letter dated 10 June 2025, has granted certificate of registration to Jio BlackRock Investment Advisers Private Limited ('JBIAPL') to act as an Investment Adviser." With the SEBI registration in place, Jio BlackRock Investment Advisers said it is poised to focus on creating digital-first products tailored to the "evolving needs of today's investors". Jio Financial Services managing director and CEO Hitesh Sethia said, 'As Indian investors increasingly seek personalized, insight-driven financial solutions, this joint venture is poised to democratize access to world-class advisory services. We are confident that JioBlackRock will redefine the future of wealth creation in India by empowering investors with global expertise and local relevance.' Additionally, the firm has announced the appointment of Marc Pilgrem as its chief executive officer (CEO) and managing director (MD). Pilgrem brings over two decades of experience in the global financial services industry to his new role at Jio BlackRock Investment Advisers. The announcement follows the recent unveiling of the executive leadership team at Jio BlackRock Asset Management, tasked with steering the company's operations. Furthermore, Jio BlackRock Investment Advisers has launched its official website and an early access programme. This initiative offers users the opportunity to engage with educational content on investing and to preview the upcoming digital-first offerings that the company plans to introduce. "Jio BlackRock gets nod to operate as investment adviser in India" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. 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
Economic Times
12-06-2025
- Business
- Economic Times
Jio Financial Services shares in focus after JV with BlackRock gets Sebi nod to start advisory business
Shares of Jio Financial Services are set to be in focus on Thursday, after its joint venture with BlackRock secured regulatory approval to begin operating as an investment adviser in India. ADVERTISEMENT Jio BlackRock Investment Advisers Pvt Ltd, the 50:50 joint venture between Jio Financial Services (JFSL) and BlackRock Inc., has received a certificate of registration from the Securities and Exchange Board of India (SEBI) to act as an investment adviser. The approval, dated June 10, was disclosed by JFSL in a regulatory filing to the stock exchanges on Wednesday. This marks a significant milestone for JioBlackRock, which had earlier secured Sebi approval in May to manage mutual funds through its asset management company (AMC). The JV has also received approval from the BSE to operate as an investment adviser. With the new license in place, the company is now preparing to offer digital-first, insight-driven investment advisory services tailored to India's evolving investor base. It plans to share more details about its offerings closer to launch."We are pleased to announce that JioBlackRock Investment Advisers has received regulatory approval, marking a significant milestone in our partnership with BlackRock,' said Hitesh Sethia, Managing Director and CEO of Jio Financial Services. 'As Indian investors increasingly seek personalised, insight-driven financial solutions, this joint venture is poised to democratize access to world-class advisory services."Rob Goldstein, Chief Operating Officer of BlackRock, said, "India is one of the fastest-growing and most dynamic investment markets in the world. JioBlackRock Investment Advisers will benefit from the power of BlackRock's global investment expertise and technology, combined with Jio's local market knowledge and digital innovation." ADVERTISEMENT JioBlackRock Investment Advisers has also announced the appointment of Marc Pilgrem as its Managing Director and CEO. Pilgrem, a veteran with over 25 years of experience, previously served in leadership roles at BlackRock, including Head of Specialist Clients and Investment Trusts for EMEA, and COO for iShares EMEA. ADVERTISEMENT Shares of Jio Financial Services have delivered a mixed performance over the past year. The stock is down 13.4% over the last 12 months and has dropped nearly 12% in the past six months. However, recent momentum has been strong, with the stock rising 39% in the past three months and gaining 22% in the last a technical perspective, the stock is trading above all its key simple moving averages — the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day SMAs — indicating strong bullish undertones across short to long-term timeframes. ADVERTISEMENT Also read | GIFT Nifty down 30 points; here's the trading setup for today's session The Relative Strength Index (RSI) stands at 74.1, which suggests the stock may be overbought and could be prone to a pullback. Meanwhile, the Moving Average Convergence Divergence (MACD) is at 11.1 and remains above both the centre and signal lines, reinforcing the bullish trend. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
