JM Financial hits 52-week high as subsidiary approves Rs 1,000 crore MSME loan assignment

Additionally, JM Financial Products' Vishal Kampani resigned from his position as Managing Director to comply with the RBI's provisions which state any key managerial personnel of NBFCs middle layers(ML) and upper layers (UL) shall not hold any other position. Vishal Kampani is already the Managing Director of JM Financial Credit Solutions Limited, an NBFC-ML.

JM Financial is engaged in holding company activities, advisors in equity and debt capital markets, management of capital markets transactions, mergers & acquisitions, and advisory.

The company is also engaged in private equity syndication, corporate finance advisory business, administration & management of private equity funds, private wealth management business, and PMS.

For the quarter ended June 30, 2024, JM Financial Ltd reported a 6.2 percent on-year (YoY) dip in net profit at Rs 60.4 crore. The company's revenue from operations, however, fell 5.4 percent YoY to Rs 219 crore.

Over the past year, JM Financial shares have jumped almost 80 percent in trade, outperforming the Nifty 50 index which has gained 32 percent during the same time.

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