Jio Financial Services shares rally 6% after stellar Q1 results. Buy, sell or hold the stock?

Jio Financial Services reported a strong Q1 with revenue from operations surging 227% year-on-year to Rs 2,004 crore and profit before tax rising 131% to Rs 970 crore, supported by Rs 509 crore in dividend income. Gross AUM at its NBFC business Jio Credit expanded 2.6 times year-on-year to Rs 30,667 crore, while net interest income at the arm grew 118%. Motilal Oswal maintained a Buy rating with a target price of Rs 315, implying 34% upside, even as it trimmed FY27 and FY28 EPS estimates by 4% and 6% to account for higher operating costs.