Jio Finance Share Price Hovers Above Rs 300 After Leadership Appointments At Jio BlackRock Asset Management
The joint venture, Jio BlackRock Asset Management Pvt., announced the appointment of its executive leadership team to drive operations.
Jio Financial Services Ltd. saw its share price rise nearly 1% in Tuesday morning trade, continuing its upward trend following a 4% increase on Monday. The stock at the time of publishing had slipped into the red but continued to hover above the Rs 300 per share mark.
The rally comes after its joint venture, Jio BlackRock Asset Management Pvt., announced the appointment of its executive leadership team to drive operations.
Jio BlackRock Asset Management has appointed several key executives, including Amit Bhosale as Chief Risk Officer, Amol Pai as Chief Technology Officer, and Biraja Tripathy as Head of Product. Last month, the mutual fund company announced Sid Swaminathan as Managing Director and Chief Executive Officer.
"Together, the team is set to deliver Jio BlackRock’s mission to transform investing in India by making it more accessible and affordable for millions of people," the company stated.
Additionally, Jio BlackRock Asset Management has launched an early access initiative on its website, inviting individuals to register their interest in its digital-first offering.
The scrip rose as much as 0.85% to Rs 306.85 apiece. It pared gains to trade 0.08% higher at Rs 304.50 apiece, as of 10:37 a.m. This compares to a 0.17% advance in the NSE Nifty 50 Index.
The Jio Finance stock has fallen 13% in the last 12 months. The relative strength index was at 76.
Only one analysts is tracking the company and they maintain a 'buy' rating, for the stock according to Bloomberg data. The average 12-month consensus price target implies an downside of 12%
