Jio Financial Have Become a Rocket

Jio Financial Services Share Price: According to BSE data, at 1 pm, shares of Jio Financial shares are trading at Rs 283.25 with a rise of 12 percent while, during the trading session, the company's shares level reached a rise of more than 14 percent and reached a 52-week high of Rs 289.70.

Is Mukesh Ambani’s next target Paytm Wallet? 

This question has been arising continuously for some days when RBI took actions like ban on Paytm wallet. Now as soon as this news spread, the shares of Mukesh Ambani's NBFC company Jio Financial have become a rocket. 

The shares of this company of Mukesh Ambani have fallen by more than 14 percent and have reached record levels. On the other hand, there is also news that the fintech company is also in contact with the country's largest private lender HDFC Bank.

Also, according to the report, One 97 Communications is in talks with Mukesh Ambani's Jio Financial and HDFC Bank to sell its wallet business. The Hindu Business Line said HDFC Bank and Jio Financial are considered to be the front runners to buy Paytm's wallet business which will be merged into Paytm Payments Bank.

It is also being said that alledgely Vijay Shekhar Sharma's team was in talks with Jio Financial since last November. According to the report, talks with HDFC Bank had started just before the ban on Paytm Payments Bank by RBI. The report also said that as part of a larger bailout plan, Jio may offer to acquire Paytm Payments Bank.

(For more news apart from Jio Financial Services Share Price, and reports of Mukesh Ambani Aiming for Paytm Wallet, stay tuned to Rozana Spokesman)