The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 25.02 per share.

A number of mutual funds companies, including State Bank of India, UTI, ICICI, Mirae Asset, Axis Bank, Kotak Bank, HDFC Bank, Aditya Birla, Nippon India, Canara Bank, Quant Funds, Sundaram Finance, Tata Group Funds, HSBC Bank, Life Insurance Corporation of India, etc, acquired shares of JFS.

Investors are closely monitoring the forthcoming RIL AGM scheduled for August 28, hopeful for significant announcements that could benefit Jio Financial Services

Assessing the demerger of Jio Financials from Reliance, Chetan Shah notes its intricacy, with possible gains and risks in tow. As the value for shareholders remains uncertain, this strategic move is anticipated to exert a substantial influence on the Indian financial services landscape.