Jio Financial and Blackrock JV: Will Eat everyone in Fintech space

 

  • Jio Financial and Blackrock JV: Will Eat everyone in Fintech space
  • Jio Financial and Blackrock form JV to set up wealth management and broking business
  • Jio Financial Services said that it had entered into a new joint venture (JV) with U.S.-based BlackRock Inc to set up a wealth management and broking business in India less than a year after launching an asset management venture.\
  • Jio Financial Service said the JV aims to tap into India's increasingly lucrative wealth business and will include the incorporation of a wealth management firm and, subsequently, incorporation of a brokerage company.
  • India's wealth managers look after $1-1.2 trillion of financial assets owned by the country's high net-worth individuals, as per a recent Jefferies report
  • Jio Financial Services joint venture with BlackRock is "progressing well" with the recruitment of a leadership team and infrastructure set up as the company awaits regulatory approval for the launch of its asset management business. 
  • Jio Financial Services Ltd, the demerged financial services arm of billionaire Mukesh Ambani's Reliance, and BlackRock announced an agreement in July 2023 to form a 50:50 joint venture with a USD 150 million investment each 
  • Jio BlackRock combines BlackRock’s scale and investment expertise with Jio Financial Services’ knowledge and resources to deliver affordable, innovative investment solutions to millions of investors in India.
  • Partnership aims to transform India’s asset management industry through a digital-first offering and democratise access to investment solutions for investors in India.
  • Jio BlackRock will be a truly transformational, customer centric and digital-first enterprise with the vision to democratise access to financial investment solutions and deliver financial well-being to the doorstep of every Indian
  • India represents an enormously important opportunity. 
  • The convergence of rising affluence, favourable demographics, and digital transformation across industries is reshaping the market in incredible ways.

Comments

Post a Comment

Popular posts from this blog

Confidence Petroleum Forays into Hydrogen Cylinder Manufacturing

  https://youtu.be/mD2k0HOpAxo?si=8H1ue9mw316h2wYr Confidence Petroleum Forays into Hydrogen Cylinder Manufacturing Unlike conventional metal cylinders, type 4four cylinders are entirely corrosion-resistant, lighter by seventy percent, and can accommodate three times more gas.  Constructed from carbon composite with a polymer liner, they boast exceptional safety features. The move signifies Confidence Group’s commitment to spearheading the global energy transition towards a cleaner and greener future.  By prioritizing innovation and environmental stewardship, the company aims to revolutionize the hydrogen storage industry and promote sustainable energy solutions. As reported by The Hitavada, through this venture into the green hydrogen market, Confidence Group aims to position itself as a leader in providing solutions that expedite the adoption of renewable energy sources.  These cylinders will play a pivotal role in the efficient storage and transportation of green ...
Read more

RSI Indicator for finding good value stocks?

  https://youtu.be/IbWEmgJQHx4?si=D0TUacnxi_9B33qM Is a Good RSI Indicator The relative strength index is a momentum indicator that looks at the pace of recent price changes to determine whether a stock is ripe for a rally or a selloff. Traders who are looking for investment opportunities should look for RSI values  that hit 30 or fall below that level.  This allows them to look for investment options that may be undervalued where the price may increase in the future.  But it's important for investors to remain steadfast and avoid making hasty decisions, since market conditions can change at a moment's notice.
Read more

Poonawalla Fincorp: I love stocks at 52L

https://youtube.com/shorts/kEd4ftcXaV4?si=8FpeXOzf0qyTs_Mo   Poonawalla Fincorp: I love stocks at 52L AUM up 52% YoY to ₹26,972 crore PPoP at ₹432 crore in Q1FY25, up 47% YoY and 6% QoQ  Assets:  ➢ Assets Under Management (AUM) stood at ₹26,972 crore, up 52% YoY and 8% QoQ  ➢ AUM Mix consist of 35% MSME finance, followed by 28% personal and consumer finance, 17% loan against property and 14% pre-owned car.   Asset Quality:  ➢ Gross NPA at 0.67%, lower 75bps YoY and 49bps QoQ  ➢ Net NPA at 0.32%, lower 44bps YoY and 27bps QoQ  ➢ Provision Coverage Ratio stood at 52.53%   Profitability:  ➢ Operating Profit (PPOP) was ₹432 crore, up 47% YoY and 6% QoQ  ➢ Profit After Tax (PAT) was ₹292 crore, up 46% YoY  ➢ Return on Assets (RoA) stood at 4.62%  ➢ Net Interest Income (inc. fees and other income) was ₹676 crore, up 42% YoY and 5% QoQ
Read more