News

NVIDIA Announces Financial Results for First Quarter Fiscal 2025

Published

8 months ago

23 May, 2024

FinCrypto Staff

NVIDIA Announces Financial Results for First Quarter Fiscal 2025

Record quarterly revenue of $26.0 billion, up 18% from Q4 and up 262% from a year ago

Record quarterly Data Center revenue of $22.6 billion, up 23% from Q4 and up 427% from a year ago

Ten-for-one forward stock split effective June 7, 2024

Quarterly cash dividend raised 150% to $0.01 per share on a post-split basis

NVIDIA (NASDAQ: NVDA) today reported revenue for the first quarter ended April 28, 2024, of $26.0 billion, up 18% from the previous quarter and up 262% from a year ago.

For the quarter, GAAP earnings per diluted share was $5.98, up 21% from the previous quarter and up 629% from a year ago. Non-GAAP earnings per diluted share was $6.12, up 19% from the previous quarter and up 461% from a year ago.

“The next industrial revolution has begun — companies and countries are partnering with NVIDIA to shift the trillion-dollar traditional data centers to accelerated computing and build a new type of data center — AI factories — to produce a new commodity: artificial intelligence,” said Jensen Huang, founder and CEO of NVIDIA. “AI will bring significant productivity gains to nearly every industry and help companies be more cost- and energy-efficient, while expanding revenue opportunities.

“Our data center growth was fueled by strong and accelerating demand for generative AI training and inference on the Hopper platform. Beyond cloud service providers, generative AI has expanded to consumer internet companies, and enterprise, sovereign AI, automotive and healthcare customers, creating multiple multibillion-dollar vertical markets.

“We are poised for our next wave of growth. The Blackwell platform is in full production and forms the foundation for trillion-parameter-scale generative AI. Spectrum-X opens a brand-new market for us to bring large-scale AI to Ethernet-only data centers. And NVIDIA NIM is our new software offering that delivers enterprise-grade, optimized generative AI to run on CUDA everywhere — from the cloud to on-prem data centers and RTX AI PCs — through our expansive network of ecosystem partners.”

NVIDIA also announced a ten-for-one forward stock split of NVIDIA’s issued common stock to make stock ownership more accessible to employees and investors. The split will be effected through an amendment to NVIDIA’s Restated Certificate of Incorporation, which will result in a proportionate increase in the number of shares of authorized common stock. Each record holder of common stock as of the close of market on Thursday, June 6, 2024, will receive nine additional shares of common stock, to be distributed after the close of market on Friday, June 7, 2024. Trading is expected to commence on a split-adjusted basis at market open on Monday, June 10, 2024.

NVIDIA is increasing its quarterly cash dividend by 150% from $0.04 per share to $0.10 per share of common stock. The increased dividend is equivalent to $0.01 per share on a post-split basis and will be paid on Friday, June 28, 2024, to all shareholders of record on Tuesday, June 11, 2024.

Q1 Fiscal 2025 Summary

GAAP
($ in millions, except earnings per share)	Q1 FY25	Q4 FY24	Q1 FY24	Q/Q	Y/Y
Revenue	$26,044	$22,103	$7,192	Up 18%	Up 262%
Gross margin	78.4%	76.0%	64.6%	Up 2.4 pts	Up 13.8 pts
Operating expenses	$3,497	$3,176	$2,508	Up 10%	Up 39%
Operating income	$16,909	$13,615	$2,140	Up 24%	Up 690%
Net income	$14,881	$12,285	$2,043	Up 21%	Up 628%
Diluted earnings per share	$5.98	$4.93	$0.82	Up 21%	Up 629%

Non-GAAP
($ in millions, except earnings per share)	Q1 FY25	Q4 FY24	Q1 FY24	Q/Q	Y/Y
Revenue	$26,044	$22,103	$7,192	Up 18%	Up 262%
Gross margin	78.9%	76.7%	66.8%	Up 2.2 pts	Up 12.1 pts
Operating expenses	$2,501	$2,210	$1,750	Up 13%	Up 43%
Operating income	$18,059	$14,749	$3,052	Up 22%	Up 492%
Net income	$15,238	$12,839	$2,713	Up 19%	Up 462%
Diluted earnings per share	$6.12	$5.16	$1.09	Up 19%	Up 461%

Outlook

NVIDIA’s outlook for the second quarter of fiscal 2025 is as follows:

Revenue is expected to be $28.0 billion, plus or minus 2%.

GAAP and non-GAAP gross margins are expected to be 74.8% and 75.5%, respectively, plus or minus 50 basis points. For the full year, gross margins are expected to be in the mid-70% range.

GAAP and non-GAAP operating expenses are expected to be approximately $4.0 billion and $2.8 billion, respectively. Full-year operating expenses are expected to grow in the low-40% range.

GAAP and non-GAAP other income and expense are expected to be an income of approximately $300 million, excluding gains and losses from non-affiliated investments.

GAAP and non-GAAP tax rates are expected to be 17%, plus or minus 1%, excluding any discrete items.

Highlights

NVIDIA achieved progress since its previous earnings announcement in these areas:

Data Center

Gaming and AI PC

First-quarter Gaming revenue was $2.6 billion, down 8% from the previous quarter and up 18% from a year ago.

Introduced new AI gaming technologies at GDC for NVIDIA ACE and Neural Graphics.

Unveiled new AI performance optimizations and integrations for Windows to deliver maximum performance on NVIDIA GeForce RTX AI PCs and workstations.

Announced more blockbuster games that will incorporate RTX technology, including Star Wars Outlaws and Black Myth Wukong.

Added support for new models, including Google’s Gemma, for ChatRTX, which brings chatbot capabilities to RTX-powered Windows PCs and workstations.

Professional Visualization

Automotive and Robotics

First-quarter Automotive revenue was $329 million, up 17% from the previous quarter and up 11% from a year ago.

Announced BYD, XPENG, GAC’s AION Hyper, Nuro and others have chosen the next-generation NVIDIA DRIVE Thor™ platform, which now features Blackwell GPU architecture, to power their next-generation consumer and commercial electric vehicle fleets.

Revealed U.S. and China electric vehicle makers Lucid and IM Motors are using the NVIDIA DRIVE Orin™ platform for vehicle models targeting the European market.

Announced an array of partners are using NVIDIA generative AI technologies to transform in-vehicle experiences.

Introduced the Project GR00T foundation model for humanoid robots and major Isaac robotics platform updates.

CFO Commentary

Commentary on the quarter by Colette Kress, NVIDIA’s executive vice president and chief financial officer, is available at https://investor.nvidia.com.

Conference Call and Webcast Information

NVIDIA will conduct a conference call with analysts and investors to discuss its first quarter fiscal 2025 financial results and current financial prospects today at 2 p.m. Pacific time (5 p.m. Eastern time). A live webcast (listen-only mode) of the conference call will be accessible at NVIDIA’s investor relations website, https://investor.nvidia.com. The webcast will be recorded and available for replay until NVIDIA’s conference call to discuss its financial results for its second quarter of fiscal 2025.

Non-GAAP Measures

To supplement NVIDIA’s condensed consolidated financial statements presented in accordance with GAAP, the company uses non-GAAP measures of certain components of financial performance. These non-GAAP measures include non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP income from operations, non-GAAP other income (expense), net, non-GAAP net income, non-GAAP net income, or earnings, per diluted share, and free cash flow. For NVIDIA’s investors to be better able to compare its current results with those of previous periods, the company has shown a reconciliation of GAAP to non-GAAP financial measures. These reconciliations adjust the related GAAP financial measures to exclude stock-based compensation expense, acquisition-related and other costs, other, gains and losses from non-affiliated investments, interest expense related to amortization of debt discount, and the associated tax impact of these items where applicable. Free cash flow is calculated as GAAP net cash provided by operating activities less both purchases related to property and equipment and intangible assets and principal payments on property and equipment and intangible assets. NVIDIA believes the presentation of its non-GAAP financial measures enhances the user’s overall understanding of the company’s historical financial performance. The presentation of the company’s non-GAAP financial measures is not meant to be considered in isolation or as a substitute for the company’s financial results prepared in accordance with GAAP, and the company’s non-GAAP measures may be different from non-GAAP measures used by other companies.


NVIDIA CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In millions, except per share data)
(Unaudited)


			Three Months Ended
			April 28,			April 30,
			2024			2023

Revenue			$	26,044		$	7,192
Cost of revenue				5,638			2,544
Gross profit				20,406			4,648

Operating expenses
	Research and development			2,720			1,875
	Sales, general and administrative			777			633
		Total operating expenses		3,497			2,508

Operating Income				16,909			2,140
	Interest income			359			150
	Interest expense			(64	)		(66	)
	Other, net			75			(15	)
		Other income (expense), net		370			69

Income before income tax				17,279			2,209
Income tax expense				2,398			166
Net income			$	14,881		$	2,043

Net income per share:
	Basic		$	6.04		$	0.83
	Diluted		$	5.98		$	0.82

Weighted average shares used in per share computation:
	Basic			2,462			2,470
	Diluted			2,489			2,490

NVIDIA CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions)
(Unaudited)


			April 28,		January 28,
			2024		2024
ASSETS

Current assets:
	Cash, cash equivalents and marketable securities		$	31,438	$	25,984
	Accounts receivable, net			12,365		9,999
	Inventories			5,864		5,282
	Prepaid expenses and other current assets			4,062		3,080
		Total current assets		53,729		44,345

Property and equipment, net				4,006		3,914
Operating lease assets				1,532		1,346
Goodwill				4,453		4,430
Intangible assets, net				986		1,112
Deferred income tax assets				7,798		6,081
Other assets				4,568		4,500
		Total assets	$	77,072	$	65,728

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities:
	Accounts payable		$	2,715	$	2,699
	Accrued and other current liabilities			11,258		6,682
	Short-term debt			1,250		1,250
		Total current liabilities		15,223		10,631

Long-term debt				8,460		8,459
Long-term operating lease liabilities				1,281		1,119
Other long-term liabilities				2,966		2,541
		Total liabilities		27,930		22,750

Shareholders’ equity				49,142		42,978
		Total liabilities and shareholders’ equity	$	77,072	$	65,728

NVIDIA CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
(Unaudited)

		Three Months Ended
		April 28,			April 30,
		2024			2023
Cash flows from operating activities:
Net income		$	14,881		$	2,043
Adjustments to reconcile net income to net cash provided by operating activities:
	Stock-based compensation expense		1,011			735
	Depreciation and amortization		410			384
	Realized and unrealized (gains) losses on investments in non-affiliated entities, net		(69	)		14
	Deferred income taxes		(1,577	)		(1,135	)
	Other		(145	)		(34	)
Changes in operating assets and liabilities, net of acquisitions:
	Accounts receivable		(2,366	)		(252	)
	Inventories		(577	)		566
	Prepaid expenses and other assets		(726	)		(215	)
	Accounts payable		(22	)		11
	Accrued and other current liabilities		4,202			689
	Other long-term liabilities		323			105
Net cash provided by operating activities			15,345			2,911
Cash flows from investing activities:
	Proceeds from maturities of marketable securities		4,004			2,512
	Proceeds from sales of marketable securities		149			–
	Purchases of marketable securities		(9,303	)		(2,801	)
	Purchase related to property and equipment and intangible assets		(369	)		(248	)
	Acquisitions, net of cash acquired		(39	)		(83	)
	Investments in non-affiliated entities		(135	)		(221	)
Net cash used in investing activities			(5,693	)		(841	)
Cash flows from financing activities:
	Proceeds related to employee stock plans		285			246
	Payments related to repurchases of common stock		(7,740	)		–
	Payments related to tax on restricted stock units		(1,752	)		(507	)
	Dividends paid		(98	)		(99	)
	Principal payments on property and equipment and intangible assets		(40	)		(20	)
Net cash used in financing activities			(9,345	)		(380	)
Change in cash and cash equivalents			307			1,690
Cash and cash equivalents at beginning of period			7,280			3,389
Cash and cash equivalents at end of period		$	7,587		$	5,079

NVIDIA CORPORATION
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
(In millions, except per share data)
(Unaudited)

		Three Months Ended
		April 28,			January 28,			April 30,
		2024			2024			2023

GAAP gross profit		$	20,406		$	16,791		$	4,648
GAAP gross margin			78.4%			76.0%			64.6%
	Acquisition-related and other costs (A)		119			119			119
	Stock-based compensation expense (B)		36			45			27
	Other (C)		(1	)		4			8
Non-GAAP gross profit		$	20,560		$	16,959		$	4,802
Non-GAAP gross margin			78.9%			76.7%			66.8%

GAAP operating expenses		$	3,497		$	3,176		$	2,508
	Stock-based compensation expense (B)		(975	)		(948	)		(708	)
	Acquisition-related and other costs (A)		(21	)		(18	)		(54	)
	Other (C)		–			–			4
Non-GAAP operating expenses		$	2,501		$	2,210		$	1,750

GAAP operating income		$	16,909		$	13,615		$	2,140
	Total impact of non-GAAP adjustments to operating income		1,150			1,134			912
Non-GAAP operating income		$	18,059		$	14,749		$	3,052

GAAP other income (expense), net		$	370		$	491		$	69
	(Gains) losses from non-affiliated investments		(69	)		(260	)		14
	Interest expense related to amortization of debt discount		1			1			1
Non-GAAP other income (expense), net		$	302		$	232		$	84

GAAP net income		$	14,881		$	12,285		$	2,043
	Total pre-tax impact of non-GAAP adjustments		1,082			875			927
	Income tax impact of non-GAAP adjustments (D)		(725	)		(321	)		(257	)
Non-GAAP net income		$	15,238		$	12,839		$	2,713

Diluted net income per share
	GAAP	$	5.98		$	4.93		$	0.82
	Non-GAAP	$	6.12		$	5.16		$	1.09

Weighted average shares used in diluted net income per share computation			2,489			2,490			2,490

GAAP net cash provided by operating activities		$	15,345		$	11,499		$	2,911
	Purchases related to property and equipment and intangible assets		(369	)		(253	)		(248	)
	Principal payments on property and equipment and intangible assets		(40	)		(29	)		(20	)
Free cash flow		$	14,936		$	11,217		$	2,643



(A) Acquisition-related and other costs are comprised of amortization of intangible assets and transaction costs, and are included in the following line items:
		Three Months Ended
		April 28,			January 28,			April 30,
		2024			2024			2023
	Cost of revenue	$	119		$	119		$	119
	Research and development	$	12		$	12		$	12
	Sales, general and administrative	$	8		$	6		$	42

(B) Stock-based compensation consists of the following:
		Three Months Ended
		April 28,			January 28,			April 30,
		2024			2024			2023
	Cost of revenue	$	36		$	45		$	27
	Research and development	$	727		$	706		$	524
	Sales, general and administrative	$	248		$	242		$	184

(C) Other consists of IP-related costs and assets held for sale related adjustments.

(D) Income tax impact of non-GAAP adjustments, including the recognition of excess tax benefits or deficiencies related to stock-based compensation under GAAP accounting standard (ASU 2016-09).

NVIDIA CORPORATION
RECONCILIATION OF GAAP TO NON-GAAP OUTLOOK


		Q2 FY2025 Outlook
		($ in millions)

GAAP gross margin			74.8	%
	Impact of stock-based compensation expense, acquisition-related costs, and other costs		0.7	%
Non-GAAP gross margin			75.5	%

GAAP operating expenses		$	3,950
	Stock-based compensation expense, acquisition-related costs, and other costs		(1,150	)
Non-GAAP operating expenses		$	2,800

Source

News

Breakfast on Wall Street: The Week Ahead

Published

6 months ago

14 July, 2024

FinCrypto Staff

The spotlight next week will shift somewhat to the Federal Reserve’s second-quarter earnings season and monetary policy. Market watchers will be treated to results from several major names, including Dow 30 components Goldman Sachs (GS), UnitedHealth (UNH), Johnson & Johnson (JNJ) and American Express (AXP), along with streaming giant Netflix (NFLX).

The Fed will still attract some attention as investors will be eager to hear from a packed lineup of central bank speakers just before the policy meeting lockout period.

In terms of the economic calendar, after fifteen days of labor market and inflation indicators, activity data will gain momentum in the form of the latest retail sales and industrial production reports.

Earnings Highlight: Monday, July 15 – Goldman Sachs (GS) and BlackRock (Black). See the full earnings calendar.

Earnings Highlight: Tuesday, July 16 – UnitedHealth (UNH), Bank of America (BAC), Progressive (PGR), Morgan Stanley (IN), PNC Financial (PNC) and JB Hunt Transport (JBHT). See the full earnings calendar.

Earnings Highlight: Wednesday, July 17 – Johnson & Johnson (JNJ), US Bancorp (USB), Morgan Children (KMI), United Airlines (UAL) and Ally Financial (ALLY). See the full earnings calendar.

Earnings Highlight: Thursday, July 18 – Netflix (NFLX), Abbott Laboratories (ABT), Black stone (BX), Domino’s pizza (ZDP) and Taiwan Semiconductor Manufacturing (TSM). See the full earnings calendar.

Earnings Highlight: Friday, July 19 – American Express (AXP), Halliburton (THANKS) and Travelers (VRT (return to recoverable value)) See the full earnings calendar.

IPO Observation: Hospital and healthcare clinic operator Ardent Health Partners (TARDT), insurance service provider Twfg (TWFG) and the biotechnology company Lirum Therapeutics (LRTX) are expected to price their IPOs and begin trading next week. The analyst quiet period ends at Rectitude (RECT) to free up analysts to publish ratings.

Source

News

Trump shooting: Gold could hit record high, dollar and cryptocurrencies set to jump

Published

6 months ago

14 July, 2024

FinCrypto Staff

Police cars outside the residence of Thomas Matthew Crooks, the alleged shooter at a Trump rally on Saturday, investigate the area in Pennsylvania. In the aftermath of the incident, one rally attendee was killed, two rally attendees are in critical condition and Donald Trump suffered a non-fatal gunshot wound. The shooter is dead after being killed by the United States Secret Service. (Photo by Kyle Mazza/Anadolu via Getty Images)

Police cars outside the residence of Thomas Matthew Crooks, the suspected shooter at a Trump rally on Saturday, investigate the area in Pennsylvania. Following the incident, one rally attendee was killed, two rally attendees are in critical condition and Donald Trump suffered a non-fatal gunshot wound. The shooter is dead after being shot dead by the United States Secret Service. (Photo by Kyle Mazza/Anadolu via Getty Images)

Investors will initially favor traditional safe-haven assets and may lean toward trades more closely tied to former President Donald Trump’s chances of winning the White House after he survived an assassination attempt, according to market watchers.

“There will undoubtedly be some protectionist or safe-haven flows into Asia early this morning,” said Nick Twidale, chief market analyst at ATFX Global Markets. “I suspect gold could test all-time highs, we’ll see the yen being bought and the dollar, and flows into Treasuries as well.”

Early market commentary suggested Trump’s shooting at a rally in Pennsylvania on Saturday could also prompt traders to increase his likelihood of success in the November election. His support for looser fiscal policy and higher tariffs is generally seen as likely to benefit the dollar and weaken Treasuries.

An indicator of market sentiment heading into the weekend: Bitcoin surged above $60,000, likely reflecting Trump’s pro-crypto stance.

Other assets positively linked to the so-called Trump trade include stocks of energy companies, private prisons, credit card companies and health insurers.

Traders will also be closely watching market measures of expected volatility on Monday, such as those in the tariff-sensitive Chinese yuan and Mexican peso, which have begun to price in the U.S. vote.

Trump said he was shot in the right ear after a shooting at his rally. His campaign said in a statement that he was “fine” after the incident, which prompted him to rush off the stage.

“Currencies will be the first major market on Monday in Asia to react to the weekend’s shots. There’s potential for extra volatility, and getting a clear reading could be especially difficult because liquidity will be hurt by Japan’s national holiday,” said Garfield Reynolds, Asia team leader for Bloomberg Markets Live.

Strategists had already expected a volatile run-up to the election, particularly as Democrats are still agonizing over President Joe Biden’s candidacy after his poor performance in last month’s debate raised questions about his age. Investors were also grappling with the possibility that the election could end in a drawn-out dispute or political violence.

But there is little precedent for events like those in Pennsylvania. When President Ronald Reagan was shot four decades ago, the stock market plunged before closing early. The next day, March 31, 1981, the S&P 500 rose more than 1% and benchmark 10-year Treasury yields fell 9 basis points to 13.13%, according to data compiled by Bloomberg.

Bond investors should pay particular attention as the attack is likely to boost Trump’s election chances and ultimately lead to concerns about the fiscal outlook, according to Marko Papic, chief strategist at California-based BCA Research Inc.

“The bond market must at some point become aware of President Trump’s greater chances of winning the White House than any of his rivals,” Papic wrote. “And I continue to believe that as his chances increase, so too must the likelihood of a bond market revolt.”

Kyle Rodda, senior financial markets analyst at Capital.com, said he was seeing client flows into Bitcoin and gold following the shooting.

“This news marks a turning point in American policy norms,” he said. “For markets, it means safe-haven trades, but more tilted toward non-traditional safe-havens.”

Source

News

Latest Business News Live Updates Today, July 11, 2024

Published

6 months ago

14 July, 2024

FinCrypto Staff

Latest Business News Live Updates Today, July 11, 2024

Follow us for stories on Bill Gates, Elon Musk, Mukesh Ambani, Gautam Adani as we bring you everything that’s happening in the business world. Follow the latest gold and silver prices here too. Stay in the know on all things business with us.

Latest news on July 11, 2024: Airtel says its new Xstream Fiber plans bundle over 350 live TV channels (Official Photo) (Reuters) Disclaimer: This is an AI-generated live blog and has not been edited by Hindustan Times staff.

Follow all the updates here:

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- Emcure Pharmaceuticals was listed at ₹1,325.05, up 31.45% on the BSE and NSE on July 10.
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- A survey conducted by UNI Global Union with the Amazon India Workers Association had 1,838 participants who alleged appalling working conditions at Amazon facilities in India.
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- Foreign currency accounts will be like a bank account in India, but instead of rupees, you hold foreign currency like US dollars.
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Thu, 11 Jul 2024 11:30 AM

Business News LIVE Updates: First Abu Dhabi Bank denies interest in acquiring stake in Yes Bank: Report
- The report said the Yes Bank stake sale has attracted interest from Japan, including Mitsubishi UFJ Financial Group Inc. and Sumitomo Mitsui Financial Group Inc.
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- Jio “could list at a valuation of $112 billion” and add “7-15 percent upside” to Reliance Industries’ share price, Jefferies said.
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- Global rating agency Moody’s has raised its outlook on Yes Bank to positive from “stable” despite expectations of a gradual improvement in its depositor base.
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- Sahaj Solar IPO: The block issue aims to raise ₹52.56 crore through issuance of 2.92 million new shares and will close on July 15.
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- Investors in Indian stocks hoping for a robust earnings season to justify expensive valuations are likely to be disappointed.
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Jio Financial share price: Should you buy this Reliance group stock on Monday ahead of Q1 FY2024 results?

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6 months ago

14 July, 2024

FinCrypto Staff

Jio Financial share price: Should you buy this Reliance group stock on Monday ahead of Q1 FY2024 results?

Q1 2024 Results: Jio Financial Share Price will be in focus on Monday as the Reliance Group company has a fixed board meeting on July 15, 2024 to consider and approve the company’s unaudited standalone and consolidated financial results. Trust Group company informed about the Q1 2024 Results date on Wednesday last week via an exchange filing. According to stock market experts, Jio Financial Services Limited is poised to deliver impressive Q1 results for FY25 on solid operating income. They have forecast a healthy QoQ PAT for the company in Q1 FY25.

Jio Financial Services News

Speaking on the Jio Financial Services Q1 2024 results, Manish Chowdhury, Head of Research, StoxBox, said, “We believe Jio Financial Services is poised to deliver impressive results in Q1FY25 aided by its operating income, which is likely to show robust growth driven by strong investment income, which in turn should lead to healthy PAT growth on a sequential basis. Jio Financial Services continues to make strategic moves such as launching digital products and expanding its ecosystem, with a clear focus on future growth. The company has announced plans to introduce products for lending against stocks and mutual funds, leveraging Jio’s large user base, which could be a significant growth driver in the coming quarters.”

“Furthermore, with the NBFC receiving RBI approval to become a primary investment company, Jio Financial Services is well-positioned to unlock value from its investments. Overall, we expect the company to report robust numbers in the upcoming quarter,” the StoxBox expert added.

Jio Financial Stock Target Price

Speaking about the technical outlook of Jio Financial share price, Ganesh Dongre, Senior Manager, Technical Research at Anand Rathi, said, “Jio Financial Services share price is poised to make a fresh high at the ₹260 apiece level. If the stock breaks above this mark, the Reliance Group stock could make a fresh high by touching the ₹290-₹295 zone. Hence, those with Jio Finance stock in their portfolio are advised to stick to the script by keeping a stop loss at ₹205. If the stock breaks above ₹260 decisively, then one can upgrade the stop loss at ₹240 for the near-term target of ₹295.”

On the advice to new buyers regarding Jio Financial stock, Ganesh Dongre said, “New buyers are advised to wait for the breakout. Once the stock breaks above ₹260, one can buy this Reliance Group stock at the short term target of ₹295, keeping a stop loss of ₹240 apiece.”

Disclaimer: The views and recommendations made above are those of individual analysts or brokerage firms, and not of Mint. Investors are advised to consult with certified experts before making any investment decisions.

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