Jio Financial Services' joint venture with BlackRock, a globally renowned asset manager, received permission from the Securities Exchange Board of India to act as a stock broker. SEBI has granted certificate of registration on Wednesday to Jio BlackRock Broking Pvt. Ltd.
After the certification, Jio BlackRock Broking can now act as a stock broker and clearing member, Jio Financial Services said in the exchange filing.
Earlier in June, Jio BlackRock Investment Advisers Pvt. Ltd. received approval from the Securities and Exchange Board of India to operate as an investment adviser.
Jio Financial Services share price advanced 4.46% to Rs 326.45 apiece, the highest level since Dec 18, 2024. The share price was trading 4.38% higher at Rs 326.05 apiece as of 11:04 a.m., as compared to 0.20% advance in the NSE Nifty 50 index.
The stock declined 33.25% in 12 months, while it advanced 8.8% on year-to-date basis. Total traded volume on NSE so far in the day stood at 1.55 times its 30-day average. The relative strength index was at 71.34, which implied the stock is slightly overbought.
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