JM Financial
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** Shares of NMDC Steel NMDS.NS fall as much as 9% to 40.48 rupees, hitting their lowest level since April 9
** Co reported a 87% q/q decline in Q1 profit, with revenue falling nearly 6%
** Co's performance moderated meaningfully q/q with EBITDA falling around 50%, JM Financial said in a note
** Sequential decline was largely attributable to lower scale of operations in our view amid a seasonally weaker quarter - JM Financial
** Steel maker last down 6.5% for the day, set for its worst session since January 8, 2026
** YTD, NMDS is down 6%
(Reporting by Nishit Navin in Bengaluru)
** Shares of NMDC Steel NMDS.NS fall as much as 9% to 40.48 rupees, hitting their lowest level since April 9
** Co reported a 87% q/q decline in Q1 profit, with revenue falling nearly 6%
** Co's performance moderated meaningfully q/q with EBITDA falling around 50%, JM Financial said in a note
** Sequential decline was largely attributable to lower scale of operations in our view amid a seasonally weaker quarter - JM Financial
** Steel maker last down 6.5% for the day, set for its worst session since January 8, 2026
** YTD, NMDS is down 6%
(Reporting by Nishit Navin in Bengaluru)
** Shares of India's Hindalco Industries HALC.NS up 0.31% to 1029.70 rupees
** Analysts, on average, expect the aluminium producer to post a 35.3% y/y rise in first- quarter revenue to 869.17 billion rupees ($9.12 billion) - data compiled by LSEG
** UBS expects Hindalco's India aluminium EBITDA to rise on stronger aluminium prices, with higher realisations expected to offset increased production costs
** JM Financial expects Hindalco's India core earnings to rise 12% sequentially, driven by a 13% increase in aluminum realizations, while Novelis' EBITDA is seen broadly stable
** Investors will watch management commentary on Novelis' recovery after analysts said the impact of last year's Oswego plant fire is easing, even as higher debt remains a concern
** YTD stock up 16.33%
($1 = 95.2725 Indian rupees)
(Reporting by Surbhi Misra in Bengaluru)
(([email protected] | X: https://twitter.com/SurbhiMisra_ |;))
** Shares of India's Hindalco Industries HALC.NS up 0.31% to 1029.70 rupees
** Analysts, on average, expect the aluminium producer to post a 35.3% y/y rise in first- quarter revenue to 869.17 billion rupees ($9.12 billion) - data compiled by LSEG
** UBS expects Hindalco's India aluminium EBITDA to rise on stronger aluminium prices, with higher realisations expected to offset increased production costs
** JM Financial expects Hindalco's India core earnings to rise 12% sequentially, driven by a 13% increase in aluminum realizations, while Novelis' EBITDA is seen broadly stable
** Investors will watch management commentary on Novelis' recovery after analysts said the impact of last year's Oswego plant fire is easing, even as higher debt remains a concern
** YTD stock up 16.33%
($1 = 95.2725 Indian rupees)
(Reporting by Surbhi Misra in Bengaluru)
(([email protected] | X: https://twitter.com/SurbhiMisra_ |;))
Aug 3 (Reuters) - JM Financial Ltd JMSH.NS:
JUNE-QUARTER CONSOL NET PROFIT 2.92 BILLION RUPEES
JUNE-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 12.01 BILLION RUPEES
Source text: [ID:]
Further company coverage: JMSH.NS
(([email protected];))
Aug 3 (Reuters) - JM Financial Ltd JMSH.NS:
JUNE-QUARTER CONSOL NET PROFIT 2.92 BILLION RUPEES
JUNE-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 12.01 BILLION RUPEES
Source text: [ID:]
Further company coverage: JMSH.NS
(([email protected];))
-- Source link: https://tinyurl.com/4syar5ww
-- Note: Reuters has not verified this story and does not vouch for its accuracy
-- Source link: https://tinyurl.com/4syar5ww
-- Note: Reuters has not verified this story and does not vouch for its accuracy
-- Source link: https://tinyurl.com/3bd4mymn
-- Note: Reuters has not verified this story and does not vouch for its accuracy
-- Source link: https://tinyurl.com/3bd4mymn
-- Note: Reuters has not verified this story and does not vouch for its accuracy
Updates to closing levels
** Shares of India's Reliance Industries RELI.NS closes up 3% at 1,386 rupees, snapping three-day losing run
** RELI records best day in over a month
** RELI lost nearly 4.5% in the last three sessions amid broad-based selling over Middle East war
** Brokerage JM Financial ("Buy", PT at 1730 rupees) says the recent correction in RELI's stock price is overdone
** Says RELI could see near-term benefits due to a jump in diesel crack on account of supply disruption risk and likely rise in petchem margin
** Adds spike in crude/LNG prices doesn't hit the co's O2C (oil-to-chemicals) business
** RELI rated "buy" on average by 34 analysts; median PT at 1,702 rupees - data compiled by LSEG
** YTD, RELI down ~12%
(Reporting by Komal Salecha in Bengaluru)
Updates to closing levels
** Shares of India's Reliance Industries RELI.NS closes up 3% at 1,386 rupees, snapping three-day losing run
** RELI records best day in over a month
** RELI lost nearly 4.5% in the last three sessions amid broad-based selling over Middle East war
** Brokerage JM Financial ("Buy", PT at 1730 rupees) says the recent correction in RELI's stock price is overdone
** Says RELI could see near-term benefits due to a jump in diesel crack on account of supply disruption risk and likely rise in petchem margin
** Adds spike in crude/LNG prices doesn't hit the co's O2C (oil-to-chemicals) business
** RELI rated "buy" on average by 34 analysts; median PT at 1,702 rupees - data compiled by LSEG
** YTD, RELI down ~12%
(Reporting by Komal Salecha in Bengaluru)
Feb 5 (Reuters) - JM Financial Ltd JMSH.NS:
JM FINANCIAL DEC-QUARTER CONSOL NET PROFIT 3.13 BILLION RUPEES
JM FINANCIAL LTD DEC-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 9.99 BILLION RUPEES
Source text: [ID:]
Further company coverage: JMSH.NS
(([email protected];;))
Feb 5 (Reuters) - JM Financial Ltd JMSH.NS:
JM FINANCIAL DEC-QUARTER CONSOL NET PROFIT 3.13 BILLION RUPEES
JM FINANCIAL LTD DEC-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 9.99 BILLION RUPEES
Source text: [ID:]
Further company coverage: JMSH.NS
(([email protected];;))
By Shubham Batra
NEW DELHI, Feb 3 (Reuters) - India's trade deal with the U.S. will improve the outlook for domestic equities over the next 12 to 18 months, providing a boost to manufacturing and export-oriented stocks, JM Financial Asset Management said on Tuesday.
President Donald Trump on Monday announced a trade deal with India that slashes U.S. tariffs on Indian goods to 18% from 50% in exchange for India halting Russian oil purchases and lowering trade barriers.
"India's competitive advantage is enhanced," JM Financial Asset Management's chief investment officer, Satish Ramanathan, told the Reuters Trading India forum. "With lowest tariffs, wider access to markets, and lowest cost of labour, this is a turning point."
Ramanathan's firm, which manages 100 billion rupees ($1.11 billion) in equities, plans to increase its exposure to India's small- and mid-cap stocks, particularly to tap opportunities among firms that could integrate more deeply into U.S.-linked supply chains.
From a valuation perspective, Ramanathan said large-cap stocks remain attractive, though their growth outlook was relatively more moderate.
According to brokerage Motilal Oswal Financial Services, the Nifty 50 .NSEI index is trading at a 12-month forward price-to-earnings ratio of 21.2 times, slightly above its long-period average of 20.8 times, resulting in a modest 2% premium.
In contrast, select mid- and small-cap companies could deliver stronger earnings momentum if export demand strengthens and domestic manufacturing activity accelerates, Ramanathan said.
"We need to have a better balance in exposure to SMIDs (small- and mid-cap) to capture this potential," he said.
Ramanathan said that companies were reporting improved profitability despite being hit by higher wage-related costs over several quarters. With the earnings season still going on, he did not give a detailed sectoral outlook.
India's medium-term fundamentals are intact, and investors should not become "too bearish" despite near-term uncertainties, Ramanathan said, cautioning that potential spikes in bond yields, currency volatility and shifts in U.S. interest rate expectations could impact foreign portfolio flows to India.
($1 = 90.0612 Indian rupees)
(Join Trading India on LSEG Messenger for live interviews: https://lseg.group/3KFHrhe)
(Reporting by Shubham Batra in New Delhi; Editing by Divya Chowdhury and Mrigank Dhaniwala)
(([email protected];))
By Shubham Batra
NEW DELHI, Feb 3 (Reuters) - India's trade deal with the U.S. will improve the outlook for domestic equities over the next 12 to 18 months, providing a boost to manufacturing and export-oriented stocks, JM Financial Asset Management said on Tuesday.
President Donald Trump on Monday announced a trade deal with India that slashes U.S. tariffs on Indian goods to 18% from 50% in exchange for India halting Russian oil purchases and lowering trade barriers.
"India's competitive advantage is enhanced," JM Financial Asset Management's chief investment officer, Satish Ramanathan, told the Reuters Trading India forum. "With lowest tariffs, wider access to markets, and lowest cost of labour, this is a turning point."
Ramanathan's firm, which manages 100 billion rupees ($1.11 billion) in equities, plans to increase its exposure to India's small- and mid-cap stocks, particularly to tap opportunities among firms that could integrate more deeply into U.S.-linked supply chains.
From a valuation perspective, Ramanathan said large-cap stocks remain attractive, though their growth outlook was relatively more moderate.
According to brokerage Motilal Oswal Financial Services, the Nifty 50 .NSEI index is trading at a 12-month forward price-to-earnings ratio of 21.2 times, slightly above its long-period average of 20.8 times, resulting in a modest 2% premium.
In contrast, select mid- and small-cap companies could deliver stronger earnings momentum if export demand strengthens and domestic manufacturing activity accelerates, Ramanathan said.
"We need to have a better balance in exposure to SMIDs (small- and mid-cap) to capture this potential," he said.
Ramanathan said that companies were reporting improved profitability despite being hit by higher wage-related costs over several quarters. With the earnings season still going on, he did not give a detailed sectoral outlook.
India's medium-term fundamentals are intact, and investors should not become "too bearish" despite near-term uncertainties, Ramanathan said, cautioning that potential spikes in bond yields, currency volatility and shifts in U.S. interest rate expectations could impact foreign portfolio flows to India.
($1 = 90.0612 Indian rupees)
(Join Trading India on LSEG Messenger for live interviews: https://lseg.group/3KFHrhe)
(Reporting by Shubham Batra in New Delhi; Editing by Divya Chowdhury and Mrigank Dhaniwala)
(([email protected];))
** Shares of cable & wire makers KEI Industries KEIN.NS, Polycab India POLC.NS, and R R Kabel RRKA.NS rise between 4% to 1%
** JM Financial expects exports to be a key growth driver for Indian C&W players, citing improved global positioning and China+1 tailwinds
** Brokerage says organised players to gain share amid rising capex, regulatory tightening, and competitive intensity
** JM forecasts sector to grow at 12% CAGR to 1,253 billion rupees ($14.60 billion) by FY28 from ~900 billion rupees in FY25
** Adds new entrants like UltraTech likely to impact smaller, unorganised players more than market leaders
** Initiates coverage on Polycab (BUY, PT 7,900 rupees), KEI (BUY, PT 4,500 rupees); reinitiates coverage on RR Kabel (BUY, PT 1,640 rupees)
** YTD, KEI Industries, Polycab India and R R Kabel down 12.5%, 4.6% and 4% respectively
($1 = 85.8100 Indian rupees)
(Reporting by Rudra Pratap Singh in Bengaluru)
** Shares of cable & wire makers KEI Industries KEIN.NS, Polycab India POLC.NS, and R R Kabel RRKA.NS rise between 4% to 1%
** JM Financial expects exports to be a key growth driver for Indian C&W players, citing improved global positioning and China+1 tailwinds
** Brokerage says organised players to gain share amid rising capex, regulatory tightening, and competitive intensity
** JM forecasts sector to grow at 12% CAGR to 1,253 billion rupees ($14.60 billion) by FY28 from ~900 billion rupees in FY25
** Adds new entrants like UltraTech likely to impact smaller, unorganised players more than market leaders
** Initiates coverage on Polycab (BUY, PT 7,900 rupees), KEI (BUY, PT 4,500 rupees); reinitiates coverage on RR Kabel (BUY, PT 1,640 rupees)
** YTD, KEI Industries, Polycab India and R R Kabel down 12.5%, 4.6% and 4% respectively
($1 = 85.8100 Indian rupees)
(Reporting by Rudra Pratap Singh in Bengaluru)
MUMBAI, July 2 (Reuters) - India's JM Financial Credit Solutions has accepted bids worth an aggregate of 6.50 billion rupees ($75.84 million) for bonds maturing in two years and 11 months, and in three years, three merchant bankers said on Wednesday.
The company will pay an annual coupon of 8.50% on each issue, and had invited commitment bids from bankers and investors earlier in the day, they said.
It did not reply to a Reuters email for comment.
Here is the list of deals reported so far on July 2:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
JM Financial Credit Solutions | 2 year and 11 months | 8.50 | 3 | July 2 | AA (Icra) |
JM Financial Credit Solutions | 3 years | 8.50 | 3.50 | July 2 | AA (Icra) |
* Size includes base plus greenshoe for some issues
($1 = 85.7100 Indian rupees)
(Reporting by Dharamraj Dhutia)
MUMBAI, July 2 (Reuters) - India's JM Financial Credit Solutions has accepted bids worth an aggregate of 6.50 billion rupees ($75.84 million) for bonds maturing in two years and 11 months, and in three years, three merchant bankers said on Wednesday.
The company will pay an annual coupon of 8.50% on each issue, and had invited commitment bids from bankers and investors earlier in the day, they said.
It did not reply to a Reuters email for comment.
Here is the list of deals reported so far on July 2:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
JM Financial Credit Solutions | 2 year and 11 months | 8.50 | 3 | July 2 | AA (Icra) |
JM Financial Credit Solutions | 3 years | 8.50 | 3.50 | July 2 | AA (Icra) |
* Size includes base plus greenshoe for some issues
($1 = 85.7100 Indian rupees)
(Reporting by Dharamraj Dhutia)
July 1 (Reuters) - JM Financial Ltd JMSH.NS:
COMPLETES ACQUISITION OF 2.98% EQUITY IN JM FINANCIAL CREDIT SOLUTIONS
Source text: ID:nNSE2fWWhs
Further company coverage: JMSH.NS
(([email protected];;))
July 1 (Reuters) - JM Financial Ltd JMSH.NS:
COMPLETES ACQUISITION OF 2.98% EQUITY IN JM FINANCIAL CREDIT SOLUTIONS
Source text: ID:nNSE2fWWhs
Further company coverage: JMSH.NS
(([email protected];;))
May 12 (Reuters) - JM Financial Ltd JMSH.NS:
DIVIDEND 2.7 RUPEES PER SHARE
MARCH-QUARTER CONSOL NET PROFIT 2.1 BILLION RUPEES
MARCH-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 10.04 BILLION RUPEES
Source text: ID:nBSE6xj3t6
Further company coverage: JMSH.NS
(([email protected];;))
May 12 (Reuters) - JM Financial Ltd JMSH.NS:
DIVIDEND 2.7 RUPEES PER SHARE
MARCH-QUARTER CONSOL NET PROFIT 2.1 BILLION RUPEES
MARCH-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 10.04 BILLION RUPEES
Source text: ID:nBSE6xj3t6
Further company coverage: JMSH.NS
(([email protected];;))
March 17 (Reuters) - JM Financial Ltd JMSH.NS:
APPROVES BUSINESS TRANSFER AGREEMENT WITH JM FINANCIAL SERVICES
AGREEMENT FOR TRANSFER OF PRIVATE WEALTH BUSINESS OF CO
CONSIDERATION FOR SALE 110.8 MILLION RUPEES
BUSINESS TRANSFER EFFECTIVE FROM APRIL 1, 2025
Source text: ID:nBSE1QQG1Y
Further company coverage: JMSH.NS
(([email protected];;))
March 17 (Reuters) - JM Financial Ltd JMSH.NS:
APPROVES BUSINESS TRANSFER AGREEMENT WITH JM FINANCIAL SERVICES
AGREEMENT FOR TRANSFER OF PRIVATE WEALTH BUSINESS OF CO
CONSIDERATION FOR SALE 110.8 MILLION RUPEES
BUSINESS TRANSFER EFFECTIVE FROM APRIL 1, 2025
Source text: ID:nBSE1QQG1Y
Further company coverage: JMSH.NS
(([email protected];;))
** Shares of JM Financial JMSH.NS climb as much as 5.5% to 108.61 rupees; last up 2.9%
** Financial services firm will receive income tax refund of 2.3 billion rupees ($27 million)
** Stock up ~8% so far this week, on track to log biggest weekly gain since late-September
($1 = 86.5525 Indian rupees)
(Reporting by Manvi Pant in Bengaluru)
(([email protected]; +918447554364;))
** Shares of JM Financial JMSH.NS climb as much as 5.5% to 108.61 rupees; last up 2.9%
** Financial services firm will receive income tax refund of 2.3 billion rupees ($27 million)
** Stock up ~8% so far this week, on track to log biggest weekly gain since late-September
($1 = 86.5525 Indian rupees)
(Reporting by Manvi Pant in Bengaluru)
(([email protected]; +918447554364;))
Feb 20 (Reuters) - JM Financial Ltd JMSH.NS:
GETS TAX DEPARTMENT ORDER FOR REFUND OF 2.30 BILLION RUPEES
Source text: ID:nNSE9CS35C
Further company coverage: JMSH.NS
(([email protected];;))
Feb 20 (Reuters) - JM Financial Ltd JMSH.NS:
GETS TAX DEPARTMENT ORDER FOR REFUND OF 2.30 BILLION RUPEES
Source text: ID:nNSE9CS35C
Further company coverage: JMSH.NS
(([email protected];;))
Adds RBI lifting restrictions on Kotak Mahindra Bank
Jan 9 (Reuters) - The Reserve Bank of India has started to ease curbs on non-banking financial companies (NBFCs) and banks after they improved their compliance following a series of supervisory restrictions.
High interest rates and tighter regulations have been cited as contributors to weak demand and a slowdown in India's economic growth, including by the federal finance ministry in a recent report.
The Indian central bank also got a new chief in December with Sanjay Malhotra taking over from Shaktikanta Das.
The following is a list of companies whose restrictions have been removed by the RBI.
KOTAK MAHINDRA BANK
The Reserve Bank of India on Wednesday lifted restrictions on Kotak Mahindra Bank KTKM.NS that had barred the lender from taking on new customers via its online and mobile banking channels, and from issuing new credit cards.
RBI had imposed business restrictions on the lender , asking it to stop adding clients through its online and mobile banking channels and issuing credit cards due to gaps in its IT infrastructure.
ASIRVAD MICRO FINANCE, DMI FINANCE, AROHAN FINANCIAL SERVICES, NAVI FINSERV
The RBI, last month, removed restrictions imposed on DMI Finance and Manappuram Finance-owned MNFL.NS Asirvad Micro Finance with immediate effect.
The regulator had in October barred the two companies, along with Arohan Financial Services and Navi Finserv, from sanctioning and disbursing loans due to "usurious" pricing and charging a significant mark-up over their funding costs.
The same restrictions on Arohan were lifted last week, and from Navi in December.
EDELWEISS ASSET RECONSTRUCTION, ECL FINANCE
The central bank last month lifted restrictions on Edelweiss Asset Reconstruction and ECL Finance, first imposed in May 2024, which barred them from acquiring financial assets or undertaking structured transactions.
The regulator was satisfied with the measures taken to address what it had called "evergreening" of distressed loans.
JM FINANCIAL
A unit of financial services firm JM Financial JMSH.NS in October resumed financing activities related to shares and debentures, including loans for IPO subscriptions after the central bank ended restrictive measures.
The RBI in March barred JM Financial Products from issuing such loans, due to regulatory violations and governance concerns.
IIFL FINANCE
In September, the RBI permitted IIFL Finance to resume issuance of gold loans.
The central bank had barred it from offering gold loans in March, citing concerns about its assessment of gold collateral and violations of the maximum permitted loan-to-value ratio, among other issues.
BAJAJ FINANCE
The RBI in May reversed curbs imposed on India's largest NBFC, Bajaj Finance, allowing it to restart loan disbursals under two of its lending products.
The restrictions were levied in November 2023 due to non-adherence with the central bank's digital lending guidelines.
(Reporting by Nandan Mandayam and Kashish Tandon in Bengaluru; Editing by Varun H K)
(([email protected]; Mobile: +91 9591011727;))
Adds RBI lifting restrictions on Kotak Mahindra Bank
Jan 9 (Reuters) - The Reserve Bank of India has started to ease curbs on non-banking financial companies (NBFCs) and banks after they improved their compliance following a series of supervisory restrictions.
High interest rates and tighter regulations have been cited as contributors to weak demand and a slowdown in India's economic growth, including by the federal finance ministry in a recent report.
The Indian central bank also got a new chief in December with Sanjay Malhotra taking over from Shaktikanta Das.
The following is a list of companies whose restrictions have been removed by the RBI.
KOTAK MAHINDRA BANK
The Reserve Bank of India on Wednesday lifted restrictions on Kotak Mahindra Bank KTKM.NS that had barred the lender from taking on new customers via its online and mobile banking channels, and from issuing new credit cards.
RBI had imposed business restrictions on the lender , asking it to stop adding clients through its online and mobile banking channels and issuing credit cards due to gaps in its IT infrastructure.
ASIRVAD MICRO FINANCE, DMI FINANCE, AROHAN FINANCIAL SERVICES, NAVI FINSERV
The RBI, last month, removed restrictions imposed on DMI Finance and Manappuram Finance-owned MNFL.NS Asirvad Micro Finance with immediate effect.
The regulator had in October barred the two companies, along with Arohan Financial Services and Navi Finserv, from sanctioning and disbursing loans due to "usurious" pricing and charging a significant mark-up over their funding costs.
The same restrictions on Arohan were lifted last week, and from Navi in December.
EDELWEISS ASSET RECONSTRUCTION, ECL FINANCE
The central bank last month lifted restrictions on Edelweiss Asset Reconstruction and ECL Finance, first imposed in May 2024, which barred them from acquiring financial assets or undertaking structured transactions.
The regulator was satisfied with the measures taken to address what it had called "evergreening" of distressed loans.
JM FINANCIAL
A unit of financial services firm JM Financial JMSH.NS in October resumed financing activities related to shares and debentures, including loans for IPO subscriptions after the central bank ended restrictive measures.
The RBI in March barred JM Financial Products from issuing such loans, due to regulatory violations and governance concerns.
IIFL FINANCE
In September, the RBI permitted IIFL Finance to resume issuance of gold loans.
The central bank had barred it from offering gold loans in March, citing concerns about its assessment of gold collateral and violations of the maximum permitted loan-to-value ratio, among other issues.
BAJAJ FINANCE
The RBI in May reversed curbs imposed on India's largest NBFC, Bajaj Finance, allowing it to restart loan disbursals under two of its lending products.
The restrictions were levied in November 2023 due to non-adherence with the central bank's digital lending guidelines.
(Reporting by Nandan Mandayam and Kashish Tandon in Bengaluru; Editing by Varun H K)
(([email protected]; Mobile: +91 9591011727;))
** India's Fortis Healthcare FOHE.NS, One 97 Communications PAYT.NS, Coforge COFO.NS and four other stocks rise between 1% and 5% ahead of MSCI rebalancing announcement post-market hours on Feb. 11
** Eight Indian stocks likely to be included in MSCI indexes, attracting $1.28 billion inflows, says JM Financial Services
** MSCI indexes tracked widely by investors, passive funds globally
** FOHE, PAYT, COFO, and Coromandel International CORF.NS up 5.3%, 2.7%, 1.4% and 1% respectively; JM Financial Services sees high probability of their inclusion
** Blue Star BLUS.NS, Federal Bank FED.NS, Uno Minda UNOI.NS, and GE Vernova TD India GETD.NS are JM Financial's "low conviction" inclusion candidates, up 0.1%-5%
(Reporting by Vivek Kumar M)
** India's Fortis Healthcare FOHE.NS, One 97 Communications PAYT.NS, Coforge COFO.NS and four other stocks rise between 1% and 5% ahead of MSCI rebalancing announcement post-market hours on Feb. 11
** Eight Indian stocks likely to be included in MSCI indexes, attracting $1.28 billion inflows, says JM Financial Services
** MSCI indexes tracked widely by investors, passive funds globally
** FOHE, PAYT, COFO, and Coromandel International CORF.NS up 5.3%, 2.7%, 1.4% and 1% respectively; JM Financial Services sees high probability of their inclusion
** Blue Star BLUS.NS, Federal Bank FED.NS, Uno Minda UNOI.NS, and GE Vernova TD India GETD.NS are JM Financial's "low conviction" inclusion candidates, up 0.1%-5%
(Reporting by Vivek Kumar M)
** Shares of JM Financial JMSH.NS fall as much as 11% to 95.28 rupees, lowest since Aug. 26; last down 9.1%
** The financial services firm on Tuesday reported ~25% Y/Y fall in Q3 consol net profit while total rev from ops fell 10.5% Y/Y
** Stock on track for a fourth consecutive session of loss, if trend holds
** More than 6 mln shares change hands, 2.1x of 30-day avg
** Stock fell 13.7% in Dec. qtr, snapping two straight quarters of gain
(Reporting by Ashish Chandra in Bengaluru)
(([email protected] (+91 7982114624))
** Shares of JM Financial JMSH.NS fall as much as 11% to 95.28 rupees, lowest since Aug. 26; last down 9.1%
** The financial services firm on Tuesday reported ~25% Y/Y fall in Q3 consol net profit while total rev from ops fell 10.5% Y/Y
** Stock on track for a fourth consecutive session of loss, if trend holds
** More than 6 mln shares change hands, 2.1x of 30-day avg
** Stock fell 13.7% in Dec. qtr, snapping two straight quarters of gain
(Reporting by Ashish Chandra in Bengaluru)
(([email protected] (+91 7982114624))
Jan 28 (Reuters) - JM Financial Ltd JMSH.NS:
JM FINANCIAL DEC-QUARTER CONSOL NET PROFIT 2.09 BILLION RUPEES
JM FINANCIAL DEC-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 11.06 BILLION RUPEES
Source text: ID:nBSE5Zs61w
Further company coverage: JMSH.NS
(([email protected];;))
Jan 28 (Reuters) - JM Financial Ltd JMSH.NS:
JM FINANCIAL DEC-QUARTER CONSOL NET PROFIT 2.09 BILLION RUPEES
JM FINANCIAL DEC-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 11.06 BILLION RUPEES
Source text: ID:nBSE5Zs61w
Further company coverage: JMSH.NS
(([email protected];;))
Jan 15 (Reuters) - JM Financial Ltd JMSH.NS:
JM FINANCIAL - NAMES ANKUR JHAVERI AS MD, CEO, INSTITUTIONAL EQUITIES
Source text: [ID:]
Further company coverage: JMSH.NS
(([email protected];))
Jan 15 (Reuters) - JM Financial Ltd JMSH.NS:
JM FINANCIAL - NAMES ANKUR JHAVERI AS MD, CEO, INSTITUTIONAL EQUITIES
Source text: [ID:]
Further company coverage: JMSH.NS
(([email protected];))
Jan 9 (Reuters) - The Reserve Bank of India has started to ease curbs on non-banking financial companies (NBFCs) after they improved their compliance following a series of supervisory restrictions.
High interest rates and tighter regulations have been cited as contributors to weak demand and a slowdown in India's economic growth, including by the federal finance ministry in a recent report.
The Indian central bank also got a new chief in December with Sanjay Malhotra taking over from Shaktikanta Das.
The following is a list of companies whose restrictions have been removed by the RBI.
ASIRVAD MICRO FINANCE, DMI FINANCE, AROHAN FINANCIAL SERVICES, NAVI FINSERV
The RBI on Wednesday removed restrictions imposed on DMI Finance and Manappuram Finance-owned MNFL.NS Asirvad Micro Finance with immediate effect.
The regulator had in October barred the two companies, along with Arohan Financial Services and Navi Finserv, from sanctioning and disbursing loans due to "usurious" pricing and charging a significant mark-up over their funding costs.
The same restrictions on Arohan were lifted last week, and from Navi in December.
EDELWEISS ASSET RECONSTRUCTION, ECL FINANCE
The central bank last month lifted restrictions on Edelweiss Asset Reconstruction and ECL Finance, first imposed in May 2024, which barred them from acquiring financial assets or undertaking structured transactions.
The regulator was satisfied with the measures taken to address what it had called "evergreening" of distressed loans.
JM FINANCIAL
A unit of financial services firm JM Financial JMSH.NS in October resumed financing activities related to shares and debentures, including loans for IPO subscriptions after the central bank ended restrictive measures.
The RBI in March barred JM Financial Products from issuing such loans, due to regulatory violations and governance concerns.
IIFL FINANCE
In September, the RBI permitted IIFL Finance to resume issuance of gold loans.
The central bank had barred it from offering gold loans in March, citing concerns about its assessment of gold collateral and violations of the maximum permitted loan-to-value ratio, among other issues.
BAJAJ FINANCE
The RBI in May reversed curbs imposed on India's largest NBFC, Bajaj Finance, allowing it to restart loan disbursals under two of its lending products.
The restrictions were levied in November 2023 due to non-adherence with the central bank's digital lending guidelines.
(Reporting by Nandan Mandayam in Bengaluru; Editing by Varun H K)
(([email protected]; Mobile: +91 9591011727;))
Jan 9 (Reuters) - The Reserve Bank of India has started to ease curbs on non-banking financial companies (NBFCs) after they improved their compliance following a series of supervisory restrictions.
High interest rates and tighter regulations have been cited as contributors to weak demand and a slowdown in India's economic growth, including by the federal finance ministry in a recent report.
The Indian central bank also got a new chief in December with Sanjay Malhotra taking over from Shaktikanta Das.
The following is a list of companies whose restrictions have been removed by the RBI.
ASIRVAD MICRO FINANCE, DMI FINANCE, AROHAN FINANCIAL SERVICES, NAVI FINSERV
The RBI on Wednesday removed restrictions imposed on DMI Finance and Manappuram Finance-owned MNFL.NS Asirvad Micro Finance with immediate effect.
The regulator had in October barred the two companies, along with Arohan Financial Services and Navi Finserv, from sanctioning and disbursing loans due to "usurious" pricing and charging a significant mark-up over their funding costs.
The same restrictions on Arohan were lifted last week, and from Navi in December.
EDELWEISS ASSET RECONSTRUCTION, ECL FINANCE
The central bank last month lifted restrictions on Edelweiss Asset Reconstruction and ECL Finance, first imposed in May 2024, which barred them from acquiring financial assets or undertaking structured transactions.
The regulator was satisfied with the measures taken to address what it had called "evergreening" of distressed loans.
JM FINANCIAL
A unit of financial services firm JM Financial JMSH.NS in October resumed financing activities related to shares and debentures, including loans for IPO subscriptions after the central bank ended restrictive measures.
The RBI in March barred JM Financial Products from issuing such loans, due to regulatory violations and governance concerns.
IIFL FINANCE
In September, the RBI permitted IIFL Finance to resume issuance of gold loans.
The central bank had barred it from offering gold loans in March, citing concerns about its assessment of gold collateral and violations of the maximum permitted loan-to-value ratio, among other issues.
BAJAJ FINANCE
The RBI in May reversed curbs imposed on India's largest NBFC, Bajaj Finance, allowing it to restart loan disbursals under two of its lending products.
The restrictions were levied in November 2023 due to non-adherence with the central bank's digital lending guidelines.
(Reporting by Nandan Mandayam in Bengaluru; Editing by Varun H K)
(([email protected]; Mobile: +91 9591011727;))
Jan 3 (Reuters) - JM Financial Ltd JMSH.NS:
RECEIVES ADMINISTRATIVE WARNING FROM SEBI
WARNING RELATED TO IPO OF CLIENT WESTERN CARRIER (INDIA) LIMITED
Source text: ID:nBSE5K473v
Further company coverage: JMSH.NS
(([email protected];;))
Jan 3 (Reuters) - JM Financial Ltd JMSH.NS:
RECEIVES ADMINISTRATIVE WARNING FROM SEBI
WARNING RELATED TO IPO OF CLIENT WESTERN CARRIER (INDIA) LIMITED
Source text: ID:nBSE5K473v
Further company coverage: JMSH.NS
(([email protected];;))
Oct 25 (Reuters) - JM Financial Ltd JMSH.NS:
SEPT-QUARTER CONSOL NET PROFIT 2.32 BILLION RUPEES
SEPT-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 11.91 BILLION RUPEES
Source text for Eikon: [ID:]
Further company coverage: JMSH.NS
(([email protected];;))
Oct 25 (Reuters) - JM Financial Ltd JMSH.NS:
SEPT-QUARTER CONSOL NET PROFIT 2.32 BILLION RUPEES
SEPT-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 11.91 BILLION RUPEES
Source text for Eikon: [ID:]
Further company coverage: JMSH.NS
(([email protected];;))
** Shares of India's JM Financial JMSH.NS jump ~6% to 168 rupees
** The NBFC on Friday said the Reserve Bank of India (RBI) lifted the ban on unit JM Financial Products
** In March, the RBI barred JM Financial Products from issuing loans against shares and debentures, citing regulatory violations and governance concerns
** Stock has risen ~70% YTD
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
** Shares of India's JM Financial JMSH.NS jump ~6% to 168 rupees
** The NBFC on Friday said the Reserve Bank of India (RBI) lifted the ban on unit JM Financial Products
** In March, the RBI barred JM Financial Products from issuing loans against shares and debentures, citing regulatory violations and governance concerns
** Stock has risen ~70% YTD
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
Oct 18 (Reuters) - JM Financial Ltd JMSH.NS:
JM FINANCIAL LTD - RBI LIFTED RESTRICTIONS IMPOSED BY IT ON COMPANY THROUGH ORDER DATED MARCH 5
Source text for Eikon: [ID:]
Further company coverage: JMSH.NS
(([email protected];;))
Oct 18 (Reuters) - JM Financial Ltd JMSH.NS:
JM FINANCIAL LTD - RBI LIFTED RESTRICTIONS IMPOSED BY IT ON COMPANY THROUGH ORDER DATED MARCH 5
Source text for Eikon: [ID:]
Further company coverage: JMSH.NS
(([email protected];;))
Oct 8 (Reuters) - JM Financial Ltd JMSH.NS:
INDIA COMPETITION WATCHDOG: APPROVES ACQUISITION OF 42.99% STAKE OF JM FINANCIAL CREDIT SOLUTIONS BY JM FINANCIAL
CCI: APPROVES ACQUISITION OF 71.79% STAKE OF JM FINANCIAL ASSET RECONSTRUCTION BY JM FINANCIAL CREDIT SOLUTIONS
Further company coverage: JMSH.NS
(([email protected];))
Oct 8 (Reuters) - JM Financial Ltd JMSH.NS:
INDIA COMPETITION WATCHDOG: APPROVES ACQUISITION OF 42.99% STAKE OF JM FINANCIAL CREDIT SOLUTIONS BY JM FINANCIAL
CCI: APPROVES ACQUISITION OF 71.79% STAKE OF JM FINANCIAL ASSET RECONSTRUCTION BY JM FINANCIAL CREDIT SOLUTIONS
Further company coverage: JMSH.NS
(([email protected];))
Aug 6 (Reuters) - JM Financial Ltd JMSH.NS:
JM FINANCIAL LTD JUNE-QUARTER CONSOL NET PROFIT 1.71 BILLION RUPEES
JM FINANCIAL LTD JUNE-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 10.77 BILLION RUPEES
Source text for Eikon: [ID:]
Further company coverage: JMSH.NS
(([email protected];))
Aug 6 (Reuters) - JM Financial Ltd JMSH.NS:
JM FINANCIAL LTD JUNE-QUARTER CONSOL NET PROFIT 1.71 BILLION RUPEES
JM FINANCIAL LTD JUNE-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 10.77 BILLION RUPEES
Source text for Eikon: [ID:]
Further company coverage: JMSH.NS
(([email protected];))
June 21 (Reuters) - JM Financial Ltd JMSH.NS:
SEBI HAS ISSUED AN ORDER IN RELATION TO CO
CO IS COMMITTED TO COOPERATE WITH SEBI FOR RESOLUTION OF MATTER
Further company coverage: JMSH.NS
(([email protected];))
June 21 (Reuters) - JM Financial Ltd JMSH.NS:
SEBI HAS ISSUED AN ORDER IN RELATION TO CO
CO IS COMMITTED TO COOPERATE WITH SEBI FOR RESOLUTION OF MATTER
Further company coverage: JMSH.NS
(([email protected];))
June 20 (Reuters) - JM Financial Ltd JMSH.NS:
SEBI - CONFIRMATORY ORDER IN MATTER OF JM FINANCIAL
SEBI - JM FINANCIAL SHALL NOT ACT AS LEAD MANAGER IN ANY PUBLIC ISSUE OF DEBT SECURITIES TILL MARCH 31,2025 OR OTHER DATE SPECIFIED BY SEBI
Source text for Eikon: [ID:]
Further company coverage: JMSH.NS
(([email protected];;))
June 20 (Reuters) - JM Financial Ltd JMSH.NS:
SEBI - CONFIRMATORY ORDER IN MATTER OF JM FINANCIAL
SEBI - JM FINANCIAL SHALL NOT ACT AS LEAD MANAGER IN ANY PUBLIC ISSUE OF DEBT SECURITIES TILL MARCH 31,2025 OR OTHER DATE SPECIFIED BY SEBI
Source text for Eikon: [ID:]
Further company coverage: JMSH.NS
(([email protected];;))
Updates Factbox published on April 25 with recent RBI actions
By Jaspreet Kalra and Siddhi Nayak
MUMBAI, May 30 (Reuters) - The Reserve Bank of India's (RBI) increased scrutiny of banks and other financial firms has resulted in a spate of supervisory restrictions, most recently on two Edelweiss Group companies for engaging in 'evergreening' of distressed assets.
On Tuesday, the RBI said Edelweiss Asset Reconstruction Co Ltd (EARCL) and non-banking firm ECL Finance (ECL) had entered into a series of structured transactions for evergreening some stressed loans, barring both firms from acquiring financial assets or undertaking structured transactions.
Since 2020, the RBI has placed business restrictions on many players. The following are some of its key actions:
HDFC BANK
In December 2020 the RBI ordered HDFC Bank to stop all launches of new digital products and issuance of new credit cards following multiple outages on the bank's digital banking channels.
The restrictions lasted until March 2022 which hindered the bank's business growth, contributing to underperformance of its stock compared to its peers.
BANK OF BARODA
In October 2023, the central bank barred state-run Bank of Baroda from adding customers to its mobile app, bob World.
Al Jazeera reported that Bank of Baroda had linked mobile numbers of strangers to boost registrations on the application, compromising security.
The restriction was lifted earlier in May after the bank rectified the deficiencies.
BAJAJ FINANCE
In November 2023 the RBI ordered India's largest non-bank finance company (NBFC), Bajaj Finance, to stop offering loans under two of its lending products.
The restrictions were levied due to non-adherence with the central bank's digital lending guidelines and were reversed earlier this month.
PAYTM PAYMENTS BANK
At the end of January 2024 the RBI asked Paytm Payments Bank to wind down its operations by March 15 due to persistent compliance issues and supervisory concerns.
Reuters reported that the RBI's concerns stemmed largely from violations of rules on customer due diligence, use of funds and technology infrastructure.
IIFL FINANCE
In early March 2024 the RBI barred IIFL Finance, an NBFC, from offering gold loans, citing concerns about the lender's assessment of the gold collateral and violations of the maximum permitted loan-to-value ratio, among other issues.
The restrictions are still in effect.
JM FINANCIAL
Also in March 2024, non-bank financier JM Financial was barred from giving out loans against shares and debentures due to regulatory violations and governance concerns.
The central bank said it found serious deficiencies in respect of loans sanctioned by the company for IPO financing. The non-bank lender continues to be barred from operating in the segment.
(Reporting by Jaspreet Kalra and Siddhi Nayak; Editing by Nivedita Bhattacharjee)
(([email protected]; +91-8769636545;))
Updates Factbox published on April 25 with recent RBI actions
By Jaspreet Kalra and Siddhi Nayak
MUMBAI, May 30 (Reuters) - The Reserve Bank of India's (RBI) increased scrutiny of banks and other financial firms has resulted in a spate of supervisory restrictions, most recently on two Edelweiss Group companies for engaging in 'evergreening' of distressed assets.
On Tuesday, the RBI said Edelweiss Asset Reconstruction Co Ltd (EARCL) and non-banking firm ECL Finance (ECL) had entered into a series of structured transactions for evergreening some stressed loans, barring both firms from acquiring financial assets or undertaking structured transactions.
Since 2020, the RBI has placed business restrictions on many players. The following are some of its key actions:
HDFC BANK
In December 2020 the RBI ordered HDFC Bank to stop all launches of new digital products and issuance of new credit cards following multiple outages on the bank's digital banking channels.
The restrictions lasted until March 2022 which hindered the bank's business growth, contributing to underperformance of its stock compared to its peers.
BANK OF BARODA
In October 2023, the central bank barred state-run Bank of Baroda from adding customers to its mobile app, bob World.
Al Jazeera reported that Bank of Baroda had linked mobile numbers of strangers to boost registrations on the application, compromising security.
The restriction was lifted earlier in May after the bank rectified the deficiencies.
BAJAJ FINANCE
In November 2023 the RBI ordered India's largest non-bank finance company (NBFC), Bajaj Finance, to stop offering loans under two of its lending products.
The restrictions were levied due to non-adherence with the central bank's digital lending guidelines and were reversed earlier this month.
PAYTM PAYMENTS BANK
At the end of January 2024 the RBI asked Paytm Payments Bank to wind down its operations by March 15 due to persistent compliance issues and supervisory concerns.
Reuters reported that the RBI's concerns stemmed largely from violations of rules on customer due diligence, use of funds and technology infrastructure.
IIFL FINANCE
In early March 2024 the RBI barred IIFL Finance, an NBFC, from offering gold loans, citing concerns about the lender's assessment of the gold collateral and violations of the maximum permitted loan-to-value ratio, among other issues.
The restrictions are still in effect.
JM FINANCIAL
Also in March 2024, non-bank financier JM Financial was barred from giving out loans against shares and debentures due to regulatory violations and governance concerns.
The central bank said it found serious deficiencies in respect of loans sanctioned by the company for IPO financing. The non-bank lender continues to be barred from operating in the segment.
(Reporting by Jaspreet Kalra and Siddhi Nayak; Editing by Nivedita Bhattacharjee)
(([email protected]; +91-8769636545;))
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Popular questions
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What does JM Financial do?
JM Financial Limited is a leading financial services group in India, offering a wide range of services to corporations, financial institutions, and individual investors. Their diverse businesses include Investment Banking, Wealth Management, Mortgage Lending, Distressed Credit, and Asset Management.
Who are the competitors of JM Financial?
JM Financial major competitors are Pilani Investment, Summit Securities, Dolat Algotech, Gyftr, Indl & Prud Invts.Co, Crest Ventures, Consolid. Finv.&Hold. Market Cap of JM Financial is ₹11,995 Crs. While the median market cap of its peers are ₹1,221 Crs.
Is JM Financial financially stable compared to its competitors?
JM Financial seems to be less financially stable compared to its competitors. Altman Z score of JM Financial is 1.6 and is ranked 8 out of its 8 competitors.
Does JM Financial pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. JM Financial latest dividend payout ratio is 25.86% and 3yr average dividend payout ratio is 34.64%
How has JM Financial allocated its funds?
Companies resources are allocated to majorly unproductive assets like Accounts Receivable
How strong is JM Financial balance sheet?
JM Financial balance sheet is weak and might have solvency issues
Is the profitablity of JM Financial improving?
The profit is oscillating. The profit of JM Financial is ₹1,088 Crs for TTM, ₹1,202 Crs for Mar 2026 and ₹821 Crs for Mar 2025.
Is the debt of JM Financial increasing or decreasing?
The net debt of JM Financial is decreasing. Latest net debt of JM Financial is ₹2,185 Crs as of Mar-26. This is less than Mar-25 when it was ₹2,688 Crs.
Is JM Financial stock expensive?
JM Financial is expensive when considering the EV/EBIDTA, however latest PE is < 3 yr avg PE. Latest PE of JM Financial is 11.53, while 3 year average PE is 14.44. Also latest EV/EBITDA of JM Financial is 7.99 while 3yr average is 3.77.
Has the share price of JM Financial grown faster than its competition?
JM Financial has given lower returns compared to its competitors. JM Financial has grown at ~6.73% over the last 10yrs while peers have grown at a median rate of 18.25%
Is the promoter bullish about JM Financial?
Promoters seem not to be bullish about the company and have been selling shares in the open market. Latest quarter promoter holding in JM Financial is 57.03% and last quarter promoter holding is 57.07%
Are mutual funds buying/selling JM Financial?
The mutual fund holding of JM Financial is decreasing. The current mutual fund holding in JM Financial is 4.73% while previous quarter holding is 5.17%.