Exploring the Prospects: Should You Consider Long-Term Investment in Jio Financial Services Limited?
On July 20, 2023, Jio Financial Services went solo, breaking away from its parent company, Reliance Industries. Just a month later, it made its debut on the stock market. Talk about a swift move, right? As it stepped onto the trading floor, Jio Financial Services flexed its financial muscles with a market capitalisation of a staggering Rs 1,700 billion. That's a lot of zeros! It quickly claimed its spot as the third-largest non-banking finance company (NBFC) in India, just behind Bajaj Finance and Bajaj Finserv. Mukesh Ambani, the head honcho of Reliance, laid out some bold plans for this new finance player at their 46th annual general meeting. Jio Financial Services wasn't just here to play; it had ambitions to shake up the financial services industry. But the big ripple in this pond was the effect on Bajaj Finance. They probably didn't see it coming. With Jio Financial Services in the NBFC arena, they now had a new rival. Shares of Bajaj Finance took a hit, falling nearl...