Jio Financial Services and Bank of America announce a joint venture with Bank of America acquiring up to 49.9% in Jio Credit for approximately $1.9 billion, subject to regulatory approvals.
Anand Rathi Shares analyst Mehul Kothari recommends three stocks with bullish technical setups: Jio Financial Services (buy ₹255-₹250, target ₹280) showing inverse Head & Shoulders reversal, Hindustan Zinc (buy ₹630-₹615, target ₹700) with breakout above ₹610 indicating trend continuation strength, and PVR INOX (buy ₹1020-₹1000, target ₹1180) forming base near 88.6% Fibonacci retracement. All recommendations include stop losses.
Mirae Asset ShareKhan's Head of Retail Research Somil Mehta recommends buying Lupin (buy Rs 2324-2325, SL Rs 2204, target Rs 2470), Jio Financial Services (buy Rs 253-254, SL Rs 243, target Rs 267), and Adani Ports and Special Economic Zone (buy Rs 1628-1629, SL Rs 1555, target Rs 1720) as of April 28, 2026. All three stocks show bullish technical patterns with momentum indicators supporting upward movement.
Jio Financial Services will expand its ₹25,000 crore lending book through property-backed and financial asset-backed corporate lending while strengthening its balance sheet before entering unsecured credit, MD Hitesh Sethia said. The loan book comprises 45% property-backed lending, 40-45% corporate lending and 10-11% financial assets-backed lending. The company operates across 18 cities with 23 million customers, has AAA rating with 3.5 times leverage, and its payments bank has scaled to 3.7 million customers with ₹540 crore deposits.
