Jio Financial Services shares fell over 2% on 29 September, reaching a fresh 52-week low amid a broader sell-off in the equity market. According to reports from LiveMint, the stock has declined more than 25% so far this year, with the recent breakdown below key support levels raising concerns over further weakness. The decline comes as overall market conditions worsened, with technical analysts pointing to multiple levels that could determine whether the stock stabilises or extends its decline.
Hitesh Rathi, Technical Analyst – Equity & Derivatives at Angel One, identified the ₹205–₹200 band as a strong long-term support zone for the stock. As reported by LiveMint, while the broader chart remains range-bound, he noted that the recent breakdown below ₹230, which had acted as a strong support level earlier this year, has shifted control towards sellers. Rathi therefore expects the stock could retest the ₹205–₹200 support band. Sudeep Shah, Vice President – Technical and Derivatives Research at SBI Securities, highlighted similar deterioration in the weekly chart, stating that Jio Financial has broken below the ₹225–₹223 support zone and is trading significantly below its key moving averages.
According to LiveMint reports, Shah expects the ₹224–₹226 zone to act as immediate resistance, with the bearish bias likely to remain intact as long as the stock trades below this range. On the downside, ₹215–₹213 is the immediate support, and a decisive break below this zone could drag the stock towards the next major support at ₹207–₹205. The RSI remains below 40 on both daily and weekly timeframes, while the rising ADX indicates strengthening bearish momentum, as noted by SBI Securities analysts. Kumar from Angel One suggests that strong positional support lies in the ₹1,100-₹1,150 spot zone, recommending traders wait for price stability around these levels before accumulating the stock for medium to long-term investment.
Jio Financial Services reported a 156% year-on-year increase in consolidated profit after tax (PAT) to ₹830 crore in Q1 FY27, driven by growth across its lending, payments, asset management and insurance businesses. According to the company's unaudited financial results for the quarter ended 30 June 2026, consolidated total income, excluding dividend income, rose 141% YoY to ₹1,496 crore. The company's pre-provisioning operating profit (PPOP), excluding dividend income, increased 38% YoY to ₹505 crore, while profit before tax (PBT), excluding dividend income, grew 18% to ₹461 crore. Including dividend income, PBT surged 131% YoY to ₹970 crore during the quarter.
As reported by LiveMint, Jio Financial Services' consolidated shareholders' equity stood at ₹1.37 lakh crore as of 30 June 2026. During the quarter, the company received the second tranche of ₹5,934 crore from its promoter group, taking the cumulative capital infusion to ₹9,890 crore. The strong financial performance in Q1 FY27 contrasts with the stock's recent technical weakness, highlighting the disconnect between fundamental strength and market sentiment in the current environment.
