Jio Financial Services shares slip to 52-week low on 29 September
Jio Financial Services shares fell more than 2% on 29 September, hitting a fresh 52-week low amid a broader sell-off in the equity market. The stock has declined over 25% year-to-date, with the recent breakdown below key support levels raising concerns over further weakness. Technical analysts note the stock is now close to reversing its entire upmove from last year after the sharp recovery seen in 2025.
Hitesh Rathi, Technical Analyst at Angel One, identified the ₹205–₹200 band as a strong long-term support zone. However, the breakdown below ₹230, which had acted as strong support earlier this year, has shifted control to sellers, increasing the likelihood of a retest of the ₹205–₹200 range.
Sudeep Shah of SBI Securities highlighted a similar deterioration in the weekly chart, noting the stock has broken below the ₹225–₹223 support zone and is trading significantly below key moving averages. With RSI below 40 on both daily and weekly charts and rising ADX indicating strengthening bearish momentum, Shah expects the ₹224–₹226 zone to act as immediate resistance, while ₹215–₹213 serves as immediate support.
Despite the bearish technical outlook, Jio Financial Services reported strong Q1 FY27 results, with a 156% year-on-year increase in consolidated profit after tax to ₹830 crore. Total income, excluding dividend income, rose 141% YoY to ₹1,496 crore. Pre-provisioning operating profit increased 38% YoY to ₹505 crore, and profit before tax, excluding dividend income, grew 18% to ₹461 crore.
Including dividend income, profit before tax surged 131% YoY to ₹970 crore. The company’s consolidated shareholders’ equity stood at ₹1.37 lakh crore as of 30 June 2026. During the quarter, it received the second tranche of ₹5,934 crore from its promoter group, bringing cumulative capital infusion to ₹9,890 crore.
Analysts caution that the bearish bias is likely to persist as long as the stock trades below the ₹224–₹226 resistance zone, with a decisive break below ₹215–₹213 potentially triggering a move toward the next major support at ₹207–₹205.
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