Page 5 - Jm Financial

No deficiencies in unit's loan sanctioning after RBI's action: JM Financial

The RBI reviewed the company's books, which showed it had repeatedly helped a group of its customers to bid for various IPO and non-convertible debenture offerings by using loaned funds

JM Financial tanks 19% as RBI bars it from lending against shares, bonds

RBI barred JMFPL from financing of share of shares or debentures owing to violations and lapses

Will JM Financial shares go the IIFL Finance way on Wednesday?

The Reserve Bank of India (RBI) has barred JM Financial Products Ltd (JMFPL) from giving loans against shares and debentures

Stocks to watch: Wipro, JM Financials, JSW Energy, NHPC, Zomato, Aavas Fin

Stocks to watch on 06, March, 2024: Wipro is set to acquire a 27 per cent stake in SDVerse LLC, aiming to enhance its leadership in software-defined vehicle and cloud car engineering services.

RBI bars JM Financial from financing against debentures and shares

Flags governance concerns; Order special audit

RBI bars JM Financial Products from financing against shares, debentures

"This action is necessitated due to certain serious deficiencies observed in respect of loans sanctioned by company for IPO financing as well as NCD subscriptions," RBI said

JM Financial Q3 results: Profit rises 46% to Rs 278 cr, NPAs stand at 4.5%

JM Financial on Monday posted a 46 per cent rise in net profit to Rs 278 crore in the December quarter on the back of robust revenue growth. In a statement, the company said both its topline at Rs 1,261 crore, which is more than 33 per cent over the same period last fiscal, and the bottomline at Rs 278 crore are the highest quarterly numbers. A large contributor to the topline was equity broking where average daily turnover jumped 50 per cent to Rs 42,644 crore. From the credit side, the loan book expanded 49 per cent year-on-year to Rs 1,759 crore. The overall loan book declined to Rs 15,111 crore from Rs 15,234 crore year-on-year and from Rs 15,808 crore sequentially. During the quarter, recoveries stood at Rs 405 crore, the company said, adding that gross Non-Performing Assets (NPAs) stood at 4.5 per cent as against 3.6 per cent in the year-ago period, while net NPAs were flat at 2.2 per cent.

Interim Budget 2024: 'A transformative yet prudent financial statement'

Overall, the government has presented a forward-looking Budget with enough assurances to trust it to lay down the roadmap through the full Budget and sticking to GDP

JM Financial appoints Axis Capital's Chirag Negandhi as managing director

Homegrown JM Financial's ranking has risen this year in the league tables for ECM activity amid rising deals in the small and midcap space

Banking scion Vishal Kampani eyes hiring push to meet dealmaking boom

The Mumbai-listed company is seeking to hire at least seven senior investment bankers in the coming year for sectors such as industrials and digital technology

Brokerages expect revenues to remain under pressure for Asian Paints

Motilal Oswal Research said in its report, "with input costs on the rise, the margin gains in the second half of FY24 are not expected to mirror those seen in the first half of FY24."

Incred Finance plans to raise Rs 300 crore via non-convertible debentures

The company plans to allocate 75 per cent of the net proceeds for purposes such as onward lending, financing and the repayment of existing borrowings, including interest and principal

Equity capital market league tables see a significant reshuffle at the top

These transactions encompass initial public offerings (IPOs), block deals, and qualified institutional placements (QIPs)

Bajaj Finance in talks with 4 investment banks to raise $800 mn-$1 bn

The final decision for the fundraising is likely to be taken in the upcoming board meeting on October 5

Expect India to outperform peers in 6 months: JM Financial's Vinay Jaising

Vinay Jaising tells that in case the US undergoes a strong recession, Indian markets can also fall or have a time-wise correction

JM Financial Home Loans, Indostar Capital Finance to explore merger

As of December 2022, JM Home had a loan book of Rs.1,181 crore and AUM of Rs. 1,272 crore with average ticket size of Rs 12 lakh and loan to value ratio of 55%

JM Financial net income falls by 12.3% to Rs 190.2 crore in Dec quarter

Financial services firm JM Financial on Friday reported a 12.3 per cent fall in net income at Rs 190.2 crore for the quarter ended December 2022. Even though the company said its loan book rose 35.5 per cent to Rs 15,234 crore during the quarter, its income growth declined 1.9 per cent to Rs 946.1 crore. The company did not offer an explanation for the decline in its profit but said the quarterly net profit includes Rs 56.8 crore from IPO financing activity. It has seen all-round improvement in asset quality with gross NPAs falling steeply to 3.60 per cent from 4.39 per cent and the net NPAs also falling to 2.23 per cent from 2.76 per cent. SMA-2 or special mention accounts which remain stressed for 60-90 days also more than halved to 1.07 per cent from 2.50 per cent on an annualised basis. Similarly, total provision to the total loan book declined to 4.11 per cent from 6.96 per cent and the loan book under Covid resolution framework declined to 0.35 per cent from 0.91 per cent.

Growth triggers to keep earnings trajectory robust for Timken India

New plant expected to boost company's revenues, margins

JM Financial Q2 net income rises slightly to Rs 180 cr; bad loans spike

JM Financial on Monday reported a marginal 3.20 per cent increase in its net income on a consolidated basis in the September quarter at Rs 180 crore as the company saw its revenue falling and bad loans rising. Total income fell 9.53 per cent to Rs 877.13 crore in the reporting quarter from Rs 969.49 crore in the year-ago period, the company said in a statement. JM Financial's loan book rose to Rs 14,670 crore from Rs 11,072 crore, but the asset quality worsened with gross NPAs climbing to 3.85 per cent from 2.32 per cent in September 2021 and from 3.52 per cent in June 2022. Net NPAs nearly doubled to 2.44 per cent from 1.38 per cent year on year and from 2.31 per cent sequentially. The company said 0.37 per cent of assets are still under the Covid protection cover, down from 0.87 per cent on-year and 0.45 per cent on-quarter. Of the total loan book, the wholesale mortgage stood at Rs 7,321 crore, up 11.3 per cent, and retail mortgage jumped 62.8 per cent to Rs 1,392 crore. Visha

BEL's sales trajectory will sustain on multiple growth opportunities

Investors may consider buying the stock on dips, say experts