Jio Financial share price: Reliance Group stock jumps for fourth straight session. Should you buy?

Stock market today: Shares of Jio Financial Services Ltd extended their uptrend for the fourth straight session during morning deals on Friday. Jio Financial share price today opened with an upside gap at ₹220 apiece on the NSE and touched an intraday high of ₹223.85 per share within a few minutes of the Opening Bell. While climbing to this intraday high, the Reliance Group stock registered an intraday gain of more than one per cent, while it logged more than 11 per cent in the last four straight sessions.

According to stock market experts, Jio Financial's share price has been on an uptrend for the last four straight sessions after the company board declared to buy SBI shares in Jio Payments Bank Ltd. This has fueled investors' confidence in this Reliance Group company. They said that Jio Financial shares have a strong base at ₹205 and may go up to ₹260 soon.

Jio Financial share price target

Expecting Jio Financial's share price rally to continue, Sumeet Bagadia, Executive Director at Choice Broking, said, “Jio Financial shares are looking positive on the chart pattern. The stock has a strong base at ₹205 apiece levels, and the support remains sacrosanct. Then, we can expect Jio Financial's share price to touch ₹240 soon. If it exceeds ₹240, the stock may go up to ₹260 apiece level soon.”

On suggestion to Jio Financial shareholders, Sumeet Bagadia said, “Jio Financial shareholders can hold the scrip maintaining stop loss at ₹205 for the immediate target of ₹240. Those with a little long view can hold the scrip for the short-term target of ₹260. Fresh investors can initiate momentum buying in Jio Financial shares for the short-term target of ₹260, maintaining strict stop loss at ₹205 apiece.”

What's fueling Jio Financial share price rally

On why Jio Financial share price is skyrocketing, Abhishek Pandya, Research Analyst at StoxBox, said, “Jio Financial Services share price has recently shown a positive trend, increasing by over 10% in the past three sessions. This upward movement followed the announcement that Jio Financial Services plans to acquire the remaining stake in Jio Payments Bank from its joint venture partner, the State Bank of India (SBI). Currently, Jio Financial Services holds an 82.17% stake in Jio Payments Bank, and its board has approved the acquisition of the remaining shares from SBI for ₹104.54 crore.”

The StoxBox expert said this acquisition represents a significant step in the company’s expansion strategy. By completing this acquisition, Jio Financial will consolidate its control over Jio Payments Bank, further strengthening its position in the financial services sector.

On challenges that Jio Financial shares may face, the StoxBox expert said, “Considering the economic scenarios, we advise investors to closely monitor several key indicators, including the Q4FY25 figures and management guidance for FY26, before making investment decisions.”

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.