JM Financial Ltd

JM Financial will hold a meeting of the Board of Directors of the Company on 12 May 2025.Powered by Capital Market - Live

JM Financial announced that Jagi Mangat Panda (DIN: 00304690) has ceased to be an Independent Director of the Company with effect from close of business hours on 30 March 2025 upon completion of her second term. Powered by Capital Market - Live

 JM Financial has on 18 March 2025 sold 57,09,32,034 equity shares held by the Company, representing 71.79% of the equity share capital of JM Financial Asset Reconstruction Company (JMFARC) to JM Financial Credit Solutions (JMFCSL). Post this sale, the Company's direct holding in JMFARC will be nil, and through JMFCSL will be 81.77%. Further, the Company, pursuant to the receipt of regulatory approvals, has on 18 March  2025 acquired 12,15,296 equity shares, representing 42.99% of the equity share capital of JMFCSL, from INH Mauritius 1 (INH). The shareholding of the Company in JMFCSL post acquisition stands at 89.67%.Powered by Capital Market - Live

Net profit of JM Financial declined 24.76% to Rs 208.92 crore in the quarter ended December 2024 as against Rs 277.68 crore during the previous quarter ended December 2023. Sales declined 10.33% to Rs 1098.00 crore in the quarter ended December 2024 as against Rs 1224.51 crore during the previous quarter ended December 2023. ParticularsQuarter EndedDec. 2024Dec. 2023% Var. Sales1098.001224.51 -10 OPM %55.2465.83 - PBDT302.95430.80 -30 PBT286.58417.12 -31 NP208.92277.68 -25 Powered by Capital Market - Live

Campus Activewear Ltd, JSW Energy Ltd, LMW Ltd, Bajaj Holdings & Investment Ltd are among the other stocks to see a surge in volumes on BSE today, 30 December 2024.JM Financial Ltd recorded volume of 28.63 lakh shares by 10:46 IST on BSE, a 14.79 times surge over two-week average daily volume of 1.94 lakh shares. The stock gained 3.02% to Rs.131.35. Volumes stood at 2.28 lakh shares in the last session.Campus Activewear Ltd notched up volume of 2.14 lakh shares by 10:46 IST on BSE, a 7.98 fold spurt over two-week average daily volume of 26779 shares. The stock rose 4.81% to Rs.331.00. Volumes stood at 61500 shares in the last session.JSW Energy Ltd saw volume of 3.5 lakh shares by 10:46 IST on BSE, a 4.18 fold spurt over two-week average daily volume of 83698 shares. The stock increased 4.80% to Rs.655.05. Volumes stood at 1.03 lakh shares in the last session.LMW Ltd registered volume of 698 shares by 10:46 IST on BSE, a 3 fold spurt over two-week average daily volume of 233 shares. The stock rose 4.67% to Rs.17,874.90. Volumes stood at 97 shares in the last session.Bajaj Holdings & Investment Ltd registered volume of 3580 shares by 10:46 IST on BSE, a 2.3 fold spurt over two-week average daily volume of 1557 shares. The stock rose 3.51% to Rs.11,699.90. Volumes stood at 1522 shares in the last session.Powered by Capital Market - Live

JM Financial will hold a meeting of the Board of Directors of the Company on 28 January 2025.Powered by Capital Market - Live

Net profit of JM Financial rose 19.09% to Rs 232.16 crore in the quarter ended September 2024 as against Rs 194.94 crore during the previous quarter ended September 2023. Sales declined 0.65% to Rs 1171.18 crore in the quarter ended September 2024 as against Rs 1178.88 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales1171.181178.88 -1 OPM %41.9156.21 - PBDT168.45291.09 -42 PBT153.60277.93 -45 NP232.16194.94 19 Powered by Capital Market - Live

The headline equity benchmarks traded in negative terrain with minor losses in afternoon trade. The Nifty traded below the 24,800 level. Barring financial services all other indices on the NSE were traded in Red. At 11:25 IST, the barometer index, the S&P BSE Sensex, was down 141.08 points or 0.17% to 81,085.53. The Nifty 50 index fell 94.05 points or 0.38% to 24,760. In the broader market, the S&P BSE Mid-Cap index fell 1.04% and the S&P BSE Small-Cap index shed 1.08%. The market breadth was weak. On the BSE, 1,200 shares rose and 2,761 shares fell. A total of 147 shares were unchanged. Economy: India's net direct tax collections jumped by 182.02% over last decade to Rs 19.60 lakh crore in FY24, from 6.95 lakh crore in FY15, following strong growth in personal income tax, the latest time series data from the Income Tax Department showed. Personal income tax collections zoomed up nearly 300% to Rs 10.45 lakh crore, from 2.65 lakh crore in FY15, outpacing corporate tax collections, which rose by 112.85% to Rs 9.11 lakh crore from Rs 4.28 lakh crore in FY15. Gainer & Losers Bajaj Auto (up 3.45%), HDFC Bank (up 3.19%), Asian Paints (up 1.15%), Eicher Motors (up 0.92%) and Reliance Industries (up 0.70%) were major Nifty gainers. HDFC Bank rallied 3.19% after the company reported 5.29% increase in standalone net profit to Rs 16,820.97 crore in Q2 FY25 as compared with Rs 15,976.11 crore in Q2 FY24. Total income rose 9.05% YoY to Rs 85,499.64 crore during the quarter as compared with Rs 78,406.23 crore in Q2 FY24. Tata Consumer Products (down 7.18%), Kotak Mahindra Bank (down 5.08%), IndusInd Bank (down 3.25%), Bharat Petroleum Corporation (BPCL) (down 3.09%) and Bajaj Finserv (down 2.68%) were major Nifty losers. Kotak Mahindra Bank slumped 5.08%. The bank's standalone net profit rose 4.78% to Rs 3,343.72 crore on 17.71% rise in total income to Rs 15,900.46 crore in Q2 FY25 over Q2 FY24. The bank reported 80% jump in provision & contingencies to Rs 660 crore in Q2 FY25 from Rs 366 crore in Q2 FY24. Stock in Spotlight: JM Financial declined 1.48%. The Reserve Bank of India (RBI) announced the lifting of restrictions imposed by it on JM Financial Products, a material subsidiary of the company. JM Financial Products has now been permitted to provide, with immediate effect, the financing against shares and debentures in compliance with all applicable laws and regulations. RBL Bank tumbled 13.94% after the bank's net profit fell 24.3% to Rs 222.52 crore on 20.1% increase in total income to Rs 4458.29 crore in Q2FY25 over Q2FY24. Tejas Network spurted 9.10% after the company reported consolidated net profit of Rs 275.18 crore in Q2 September 2024 as against net loss of Rs 12.64 crore in Q2 September 2023. Net sales soared 570.58% to Rs 2655.16 crore in Q2 September 2024 over Q2 September 2023. Tech Mahindra rose 0.40% after the company's consolidated net profit jumped 46.81% to Rs 1,250.1 crore on 2.36% rise in revenue from operations to Rs 13,313.2 crore in Q2 FY25 over in Q1 FY25. Global market: European shares mostly declined as investors remained cautious amid elevated Middle East tensions. German Producer price index fell to 1.4% YoY in September 2024, due to significantly lower energy prices, the federal statistics office said on Monday. Asian stocks traded mixed on Monday as traders digested China's latest loan prime rate cut and looked ahead to Japan's upcoming general election. The People's Bank of China lowered both the one-year and five-year LPRs by 25 basis points, signaling a continued effort to stimulate the economy. Other key economic indicators this week include Tokyo's October inflation data and South Korea's preliminary third-quarter GDP figures. These releases will provide insights into the region's economic health and potential policy responses. Global financial markets remain influenced by a complex interplay of factors. On one hand, investors are closely watching the economic prospects of the United States and China. On the other, geopolitical tensions in the Middle East and other regions continue to create uncertainty. In the United States, major stock indices closed at record highs on Friday. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all posted gains, driven by strong earnings reports and optimism about the tech sector. Notably, Netflix's post-earnings surge contributed significantly to the Nasdaq's performance. The broader market benchmark, the S&P 500, advanced 0.40% on Friday. The Dow Jones Industrial Average gained 0.09%, while the Nasdaq Composite closed up 0.63%. This marks the sixth consecutive week of gains for all three major indices, the longest such streak since late 2023.Powered by Capital Market - Live

In a regulatory filing made post market hours on Friday, the company informed that the Reserve Bank of India (RBI) has, with immediate effect, lifted the restrictions imposed by it on JM Financial Products, a material subsidiary of JM Financial. Accordingly, JM Financial Products has now been permitted to provide, with immediate effect, the financing against shares and debentures in compliance with all applicable laws and regulations. In March this year, the country's banking regulatory had asked the company to stop sanction and disbursal of loans against Initial Public Offering (IPO) of shares as well as against subscription to debentures. Offering an explanation of the aforesaid regulatory action, the RBI had said that this action was necessitated due to certain serious deficiencies observed in respect of loans sanctioned by the company for IPO financing as well as NCD subscriptions. JM Financial is an integrated and diversified financial services group. The Group's primary businesses include an investment bank, mortgage lending, alternative and distressed credit and asset management, wealth management and securities business. The company had reported 3% rise in net profit to Rs 171 crore on a 1% increase in total income to Rs 1,094 crore in Q1 FY25 as compared with Q1 FY24. Powered by Capital Market - Live

Accordingly, JM Financial Products has now been permitted to provide, with immediate effect, the financing against shares and debentures in compliance with all applicable laws and regulations. In March this year, the country's banking regulatory had asked the company to stop sanction and disbursal of loans against Initial Public Offering (IPO) of shares as well as against subscription to debentures. Offering an explanation of the aforesaid regulatory action, the RBI had said that this action was necessitated due to certain serious deficiencies observed in respect of loans sanctioned by the company for IPO financing as well as NCD subscriptions. JM Financial is an integrated and diversified financial services group. The Group's primary businesses include an investment bank, mortgage lending, alternative and distressed credit and asset management, wealth management and securities business. The company had reported 3% rise in net profit to Rs 171 crore on a 1% increase in total income to Rs 1,094 crore in Q1 FY25 as compared with Q1 FY24. The scrip had advanced 1.57% to end at Rs 158.70 on the BSE. Powered by Capital Market - Live