Jio Financial shares surge 4% today but fell 28% in 2026: Can stock break out of its prolonged downtrend? Key levels

Jio Financial Services shares rose nearly 4% on Monday, 2 November, after the company completed the conversion of warrants held by two promoter-group entities into equity shares, increasing their combined stake in the company.

The company allotted 12.5 crore equity shares each to Sikka Ports & Terminals Ltd and Jamnagar Utilities & Power Pvt Ltd at ₹316.50 apiece, comprising a face value of ₹10 and a premium of ₹306.50 per share.

The allotment was approved by the board's Stakeholders’ Relationship Committee on 30 October and marks the completion of the warrant conversion process that began in September 2025. Both entities had initially received 25 crore warrants each on a preferential basis, with an earlier tranche of 12.5 crore shares each allotted in April 2026.

Following the latest allotment, Jio Financial Services' paid-up equity capital has increased to ₹6,853.14 crore, comprising 685.31 crore shares.

Sikka Ports & Terminals' holding has risen to 4.65% from 2.93%, while Jamnagar Utilities & Power's stake has increased to 5.52% from 3.84%. Consequently, the combined shareholding of promoters and promoter-group entities has climbed to 50.98% from 49.13%.

Last month, Jio Financial Services reported a 51% year-on-year decline in consolidated net profit to ₹340.44 crore for the September quarter of FY27, compared with ₹695 crore in the corresponding period last year, as a sharp increase in expenses weighed on earnings.

Despite a decline in profit, the company's total income surged nearly 70% to ₹1,699.41 crore during the July-September quarter, up from ₹1,002.40 crore a year earlier, according to its regulatory filing.

Interest income rose significantly to ₹1,257.68 crore from ₹392.37 crore in the year-ago quarter.

However, total expenses also climbed sharply to ₹1,166 crore during the quarter, compared with ₹436.50 crore in the corresponding period of the previous fiscal year.

Jio Financial Services share price today opened at ₹206.85 apiece on the BSE, the stock touched an intraday high of ₹212.10 per share, and an intraday low of ₹206.60 apiece. However, the stock has fallen about 28% in 2026 so far.

Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities, said Jio Financial Services had been trading in a narrow range of ₹203–209 over the past five sessions. Although the stock declined around 3.5% and broke below this consolidation range, it continues to trade below its key moving averages. Therefore, it is too early to interpret the recent weakness as a confirmed trend reversal, he said.

Shah added that the stock's Relative Strength Index (RSI), which had earlier remained sideways, has started moving higher, indicating a gradual improvement in momentum.

On the downside, the ₹200–205 range is likely to provide crucial support, while the previous swing high zone of ₹217–220 is expected to act as strong resistance. According to Shah, a decisive close above ₹220 would be necessary to signal a potential short-term trend reversal.

Gaurav Arora, Head of Research, SAHI, said that after a correction, the stock has moved closer to its broader support area at ₹198, where it found support around the demand zone and has been trying to recover. The immediate resistance is at ₹212, followed by ₹222. Reclaiming these levels could help the stock shift back to a positive setup.

Deepesh Sarawagi, Technical Research Analyst at Choice Broking, said Jio Financial Services is trading around ₹213.42 and showing signs of a potential technical reversal after an extended decline from its swing high of ₹268.

He noted that the stock has formed a bullish RSI divergence on the daily chart, with prices making lower lows near the ₹202.50 level while the RSI formed higher lows. This indicates a loss of downside momentum. The stock has since rebounded sharply from its recent low of ₹202.51 and reclaimed its short-term moving average with a strong bullish candle.

Momentum indicators are also supporting the recovery. The 14-day RSI has climbed to 47.80, crossing above its signal line at 36.76 after moving out of the oversold zone.

On the upside, immediate resistance is placed in the ₹221–222 range, followed by the next supply zone near ₹230. On the downside, the ₹202.50–206 range remains a crucial support zone for sustaining the recovery, Sarawagi said.

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.

Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players. <br><br> At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a close eye on equity markets, commodities, and macroeconomic indicators, assisting audiences in comprehending how global and domestic events influence investment perspectives. Her stories frequently underscore emerging trends within sectors, the IPO market, company earnings results, and market strategies pertinent to both retail and institutional investors. <br><br> Before her tenure at LiveMint, Dhanya accumulated a wealth of professional experience at various companies, including MintGenie, Informist, Cogenics, Chary Publications, KPMG, and the Royal Bank of Scotland. These positions allowed her to establish a solid foundation in financial research, reporting, and content creation. <br><br> Throughout her career, she has explored numerous subjects such as trading strategies, commodities, IPOs, wealth generation, corporate profits, and macroeconomic indicators. Her background in both financial journalism and corporate settings has given her the ability to tackle stories with analytical rigor while ensuring clarity for her audience. Through her contributions, Dhanya strives to deliver insightful, trustworthy, and investor-centric financial content.

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