Stock of this investment company surged more than 6% in the market today after a bulk deal took place. The details about the buyer and seller were updated in the BSE exchange after the market closed.
Share price of JM Financial closed at Rs. 92.40 per piece. The stock gained 6.4% to reach its intra- day high of Rs. 94.80 apiece. The stock has returned 37.53% in the last six months and 39.03% in the last one year.
According to BSE, On 6 September 2023, Quant Mutual Fund Bought 0.9% stake, 94 lakhs equity shares in the company of face value of Rs.10 each at Rs.91 per share. On a similar note, Valiant Mauritius Partners Offshore Limited sold 0.8% stake, 76 lakhs equity shares in the company of face value of Rs.10 each at Rs.91.02 per share.
The company has a market capitalization of Rs. 8523.35 crore. According to its recent financials, the company saw an increase in its revenue for 26% from Rs. 845.6 crore in Q4FY23 to Rs. 1064.95 crore in Q1FY24. Its net profit rose 190.4% from Rs. 57.11 crore in Q4FY23 to Rs. 165.98 crore in Q1FY24. The company maintains a P/E ratio of 14.33 against its industry average ratio of 28.14.
JM Financial Limited is a financial service company based in India. The company operates as an investment bank and caters to various corporate, institutional and government clients. JM also offers its services as a mortgage lending firm along with AWS services.
Written by Bhumika Khandelwal
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