Market Regulatory SEBI has approved Mukesh Ambani’s Jio Blackrock Broking Pvt Ltd for brokerage business. Now this company is going to land on the broking platform. The company is a full -fledged subsidiary of Jio Blacrock Investment Advisors. After this news came, the shares of Jio Financial Services rose 4 percent to Rs 327.75.
The target of Mukesh Ambani’s company is to bring affordable, transparent and technology changes for Indian investors. The broking unit’s original company JioCroacrock Investment Advisors have a 50-50 joint business between Jio Financial Services and Blacrock Inc.
The company said that the Jio Blackrock Asset Management Private Limited and the Jio Blackrock Investment Advisors had recently sought approval from SEBI to start operations. After which this approval has been given. The company further stated that the Jio Blacrock Joint venture enables the broking license to provide a overall investment solution to the people of India.
What did the company say?
Expressing happiness in its statement, the company also said that this step of SEBI takes us closer to contributing to the continuous development in the country for those who save India. With the Jiobaccrock Investment Advisors, we will be able to give personal advice to retail investors. Now with brokerage, we will also bring an execution platform for investors.
Geo Financial Share Performance
The stock of Jio Financial Services rose 4 per cent to Rs 325 today. At the same time, 14 percent returns have been given in a week. Apart from this, it has given 10 per cent returns in 1 month and about 50 per cent in 3 months. During the last one year, this stock has also given negative returns of 6 percent to investors.
At the same time, the shares of Reliance Industries are also seeing a boom. Reliance Industries stock rose 1.58 percent to Rs 1518 today. In a month, this stock has given more than 6 percent return. At the same time, there has been a rise of 18 percent in 3 months and 24 percent in 6 months.
(Note- Be sure to help your financial advisor before investing in any share.)