Jio Financial Services shares rise 4% after teaming up with investment giant BlackRock to tap high-growth Indian wealth sector
Jammu, April 16 -- A day after announcing plans to partner with global investment behemoth BlackRock, shares of Reliance Industries' financial services arm Jio Financial Services gained ground on investor optimism over the new joint venture's prospects.
In yesterday's session, Jio Financial saw its stock decline nearly 5% ahead of the tie-up news. But in today's opening hours, investor sentiment reversed as the scrip advanced over 3.75% to trade at Rs 367.75.
The joint venture will see Jio Financial and BlackRock establish a new wealth management and broking entity to tap rising opportunities in India's increasingly lucrative personal finance market. It comes at an auspicious time when domestic stock indices are hovering near record hig...
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