Prior to joining trica, Kampani led the investor relations function at Kotak Mahindra Bank, and was part of the strategy team
Atul Mehra and Adi Patel, currently CO-CEO’s of the investment banking business, elevated as Joint MDs
On October 21, J M Financial had said its subsidiary will acquire 24.5 percent stake in India Home Loan on a preferential allotment basis.
At the CNBC-TV18 India Business Leaders Award, legendary investment banker Nimesh Kampani, Chairman of JM Financial Group, was awarded the Lifetime Achievement Awards.
"The group's fund-based and asset management businesses have continued to demonstrate steady growth this quarter," JM Financial Group chairman Nimesh Kampani said in a statement.
Critics fear the companies are burning up the cash on things like discounting and worry about their sustainability.
While some of these pioneering biggies, Kothari and Bansali, quit the space after selling DSP Merrill Lynch to Merril Lynch in 2005 and Enam Securities to Axis Bank in 2010, respectively, Kotak and Kampani became full-service financial players with focus on credit business. Kotak has even entered into the banking sector.
The consolidated net profits of JM Financial stood at about Rs 92.2 crore during the July-September period in 2014-15.
On Monday, the largest domestic rating agency Crisil upgraded its ratings on the Nimesh Kampani-promoted JM Financial Group to AA/Stable from AA-Positive.
JM Financial Group on Thursday reported a 24 percent rise in consolidated net profit at Rs 72.35 crore for the quarter ended June on a healthy growth in fee income.
For the full fiscal, consolidated revenue rose 39 percent to Rs 1,403 crore, helping the company report a healthy 58 percent jump in net profit at Rs 331 crore.
Consolidated income increased 52 per cent to Rs 377.23 crore, while fee and commission income rose to Rs 101.43 crore from Rs 67.86 crore,
Premji, Chairman and founder of leading IT firm Wipro, currently holds 2.9 percent stake as part of his individual investment portfolio in Nimesh Kampani-led JM Financial, one of the 25 aspirants eyeing banking foray.
JM Financial shares on Friday surged 15 percent to hit a 52-week high of Rs 27.70 on NSE. However, the market optimism may be lacking a rational approach. "For banking licence, RBI will prioritise the brand factor first," a senior RBI official told moneycontrol.com on condition of anonymity.