Shares of Jio Financial were on fire on Friday going up over 14% to hit a new all-time high of ₹347. The company’s market cap also crossed over ₹2 lakh crore, dwarfing other heavyweights such as Tata Steel, IRFC, Tech Mahindra and BPCL.

However, the company’s journey started on a brought note at the bourses. The stock kept hitting lower circuits for several days.

The Investment: If you bought the stock during that rut when it fell to around ₹210 level, you would have received around 47 shares of the company for your ₹10,000 investment. Today the value of those 47 shares would have surged up to ₹16,500.

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Background: The demerger entity has had a strong run at the bourses since the new year started. The Jio share price has surged up over 40% on a year-to-date basis. It is up almost 200% from its allotment price of around ₹107.

In its December quarter earnings report, Jio Financial disclosed a net profit of ₹293 crore and a net interest income of ₹269 crore. The company’s total interest income amounted to ₹414 crore, while its total revenue stood at ₹413 crore.

Jio Financial, a holding company, aims to conduct its financial services operations through its consumer-facing subsidiaries, including Jio Finance Ltd (JFL), Jio Insurance Broking Ltd (JIBL), and Jio Payment Solutions Ltd (JPSL).

During the October-December quarter, Jio Financial disclosed a net profit of ₹293 crore and a net interest income of ₹269 crore. Parent company Reliance Industries also hit a new lifetime high.

Price Action: Jio’s share price was up 10.43% to trade at ₹334.45 on Friday.

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