Jio Financial Services shares fell more than 2% on Tuesday, 29 September, hitting a fresh 52-week low amid a broader sell-off in the equity market. The stock has declined more than 25% so far this year, with the recent breakdown below key support levels raising concerns over further weakness. Technical analysts point to multiple levels that could determine whether the stock stabilises or extends its decline.
Hitesh Rathi, Technical Analyst – Equity & Derivatives at Angel One, said the stock is now close to undoing its entire upmove from last year after the sharp recovery seen in 2025. While the broader chart remains range-bound, he identified the ₹205– ₹200 band as a strong long-term support zone. However, 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, meanwhile, highlighted a similar deterioration in the weekly chart. He said Jio Financial has broken below the ₹225– ₹223 support zone and is trading significantly below its key moving averages. The RSI remains below 40 on both the daily and weekly timeframes, while the rising ADX indicates strengthening bearish momentum.
Against this backdrop, Shah expects the ₹224– ₹226 zone to act as immediate resistance. He said the bearish bias is 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.
Jio Financial Services – Q1 results
Jio Financial Services reported a 156% year-on-year (YoY) 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, reflecting the impact of dividend income on the company’s overall profitability.
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.
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