Jio Finance Limited, the non-banking financial company (NBFC) of Mukesh Ambani’s company Jio Financial Services, has made a big announcement. In fact, the company said that it is in the final stage of starting the home loan service. It has been started on a trial basis (beta). Apart from this, the company is also going to introduce other products like loan on assets, loan on security.
What did the CEO of the company say
Addressing shareholders at the annual general meeting on Friday, the company’s Managing Director and Chief Executive Officer (CEO) Hitesh Sethia said – We are in the final stages of launching home loans, which have been started on a trial basis. He said that Jio Finance Limited has already introduced secured loan products in the market such as supply chain financing, loans on mutual funds and enterprise solutions for equipment financing.
Status of company shares
Talking about the stock of Jio Financial Services, it is at Rs 321.75. On Friday, this stock closed down by 1.21%. In April 2024, this stock reached Rs 394.70. This is the 52-week high of the stock. At the same time, in October 2023, the stock price was at Rs 204.65. This is the 52-week low level of the stock.
In which business is the company active
The company has recently received permission from the Reserve Bank of India to operate as a core investment company (CIC). Jio Financial Services, listed as a separate company from Reliance Industries Limited, is engaged in the business of investment and financing, insurance broking, payment bank and payment platform service.
Let us tell you that Jio Financial Services Limited’s profit in the June quarter has come down by six percent to Rs 313 crore. The company had earned a profit of Rs 332 crore in the same quarter a year ago.