Jio Financial Services Limited JIOFIN

“India is one of the world's most important growth markets, and this investment reflects our confidence in its future, a market we know well and have supported for decades,” Bank of America CEO Brian Moynihan said on the deal.

The deal will bring together Jio Financial Services’ digital distribution with Bank of America’s financial services capabilities.

Bank of America stock has delivered a 138.5% return over the past three years, yet current valuation checks indicate the shares still sit below an intrinsic value estimate from the Excess Returns model and also screen as undervalued on earnings based multiples. A 138.5% three year return puts Bank of America among the stronger performers in large cap financials, which raises the bar for what counts as an attractive entry price now. The joint venture with Jio Financial Services in India and...