“Maintained a 'Buy' rating on Jio Financial Services with a target price of ₹315, implying a 34% upside. The company delivered a healthy June-quarter performance, supported by strong growth in Jio Credit, with AUM crossing ₹300 billion, and steady progress in payments, insurance, and asset management. Despite elevated operating expenses leading to reduced FY27/FY28 EPS estimates, consolidated PAT is expected to grow at a 46% CAGR between FY26 and FY28.”

Motilal Oswal Analysis’s track record: 6 graded calls · 95% CI 19–81%