Jio Financial Gets A Banking Boost: Bank of America Deal Sends Reliance-Backed Stock Higher | Buy Now?

Jio Financial Services Share Price Today: Shares of Jio Financial Services surged during Thursday's intraday trading sessionn after the company announced strategic joint venture with Bank of America.

Jio Financial Services subsidiary, Jio Credit (JCL), has entered into a share subscription agreement and shareholders' agreement with NB Holdings, a wholly owned subsidiary of Bank of America (BofA).

Jio Financial Services share price was trading 0.04% higher at Rs 255.1 per share on BSE with a market capitalisation of Rs 1,68,446.14 crore at 1:16 pm on Thursday. Earlier in the day, the stock rallied nearly 3% to touch an intraday high mark of Rs 263.35 per share, but pared gains later.

Jio Financial Services Q1 Business Update

The Reliance Group-backed Jio Financial Services, tie up with BoFA arm is a positive development for the company's business prospect. The Rs 182.7 billion capital infusion provides substantial balance sheet headroom for JCL to scale up its lending franchise.

"The partnership with BofA also adds a strategic value through potential access to global expertise across risk management, technology and product development while strengthening JCL's competitive positioning in the Indian financial services market," stated Motilal Oswal in its report.

Under the definitive agreement, BofA will acquire up to a total of 49.9% interest as a joint venture partner in JFSL's wholly-owned NBFC lending subsidiary, JCL, through a preferential allotment of equity shares and warrants.

Jio Financial Service Share Price Recommendation

The brokerage maintained a 'Buy' rating for Jio Financial Service stock with a target price of Rs 315 per share. "We expect earnings momentum to strengthen every year for JCL, driven by a disciplined scale-up of business and a strong focus on profitability. We expect AUM CAGR of 85% and PAT CAGR of 145% over FY26-FY28E, with RoA/RoE of 1.9%/10.4% in FY28E."

Jio Financial Services Share Price Trend

The stock opened higher on Thursday. Its share price hit its 52-week high mark of Rs 333.65 per share on BSE on August 18, 2025. The stock dipped to its 52-week low mark of Rs 223.30 per share on March 30, 2026. The stock has a return on equity (ROE) of 2.44%. Its share price value has surged 10% in three months, but it has declined around 13% in 2026 so far.

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