# JM Financial (JMFINANCIL) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/jmfinancil

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹111.55
- Change: +2.54%
- As of: 2026-11-06
- 1D return: +2.54%
- 5D return: +3.50%
- 1M return: -7.50%
- Latest complete quarter: fy27_q2

## Faxioms Analysis

_As of 2026-11-06_

### Technical Outlook

JMFINANCIL exhibits a robust, established downtrend across daily and monthly horizons, with the price at ₹111.55 trading below all key moving averages and the Supertrend indicator. The daily ADX of 31.85 confirms strong trend conviction, while the minus DI (30.7) significantly outweighs the plus DI (12.09), indicating persistent selling pressure. Participation remains elevated during declines, evidenced by an extreme volume-and-price anomaly on 2026-11-05 (-4.5% return, 4.39x volume ratio). The stock is positioned near the lower end of its 252-day range (+12.2%) and sits within a wide intraday range, reflecting high volatility (ATR 4.22%, annualized vol 44.0%). Although recent candlestick formations like the Bullish Engulfing Reversal appeared on 2026-11-04, they have not yet altered the structural bias. Immediate support lies at ₹111.23, with a pivot at ₹109.64; resistance begins at ₹113.67. A sustained move above ₹113.67 would be required to challenge the bearish structure, while a break below ₹109.64 could accelerate downside toward ₹107.20.

- Trend: Established bearish bias on daily (ADX 31.85) and monthly (ADX 25.82) timeframes; price trades below all major MAs and Supertrend.
- Momentum & Participation: Strong downward momentum with minus DI (30.7) vs plus DI (12.09); extreme selling volume recorded on 2026-11-05.
- Risk Profile: High volatility (ATR 4.22%, Annualized Vol 44.0%) and significant drawdown (-42.2% current); price in lower-middle of 252-day range.
- Key Levels: Monitor support at ₹111.23 and pivot ₹109.64; resistance at ₹113.67. Break above ₹113.67 needed to signal potential trend stabilization.

- Bullish Engulfing Reversal
- Outside Bar
- Doji
- Inside Bar
- Evening Star

### News Context

JM Financial Limited (NSE: JMFINANCIL) announced an interim dividend of ₹1.65 per share with a record date of November 11, 2026, as filed on the National Stock Exchange on November 6, 2026. This corporate action follows the company’s earnings conference call held on November 5, 2026, which covered financial performance for the second quarter and half year ended September 30, 2026; the audio recording of this call was subsequently uploaded to the company website.

Market data as of November 6, 2026, shows the stock trading at ₹111.55, up from the previous close of ₹108.79, with a market capitalization of approximately ₹10,410.77 crore. Technical indicators reflect a bearish trend across daily, weekly, and monthly timeframes, with the Supertrend direction signaling downside pressure. The stock has experienced significant volatility, evidenced by an annualized volatility of 44.0% and a current drawdown of -42.2%. Performance metrics indicate a year-to-date decline of 24.4%, a one-month return of -10.0%, and a one-year return of -31.1%. Support levels are identified near ₹111.23 and ₹109.64, while resistance is noted at ₹113.67.

- Corporate Action: Interim dividend of ₹1.65 per share declared; record date set for November 11, 2026.
- Earnings Disclosure: Company hosted an earnings conference call on November 5, 2026, covering Q2 and H1 FY2027 results; audio recording made available online.
- Price Action: Stock closed at ₹111.55 on November 6, 2026, with a market cap of ~₹10,410.77 crore and turnover of ₹20.41 crore.
- Technical Outlook: Daily, weekly, and monthly trends are bearish; stock faces a current drawdown of -42.2% and YTD loss of 24.4%.

- SERIES:EQ |PURPOSE:INTERIM DIVIDEND - RS 1.65 PER SHARE |FACE VALUE:1 |RECORD DATE:11-Nov-2026 |BOOK CLOSURE START DATE:- |BOOK CLOSURE END DATE:-
- JM Financial Limited has informed the Exchange about Link of Recording |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates
- JM Financial Limited has informed the Exchange about Audio Recording/Video Recording |SUBJECT: Analyst/Investor Meet Para A-XBRL

### What Changed

JM Financial Limited has announced an interim dividend of ₹1.65 per share, with a record date set for November 11, 2026. This corporate action was filed on the NSE on November 6, 2026. Concurrently, the company held an earnings conference call on November 5, 2026, to discuss financial performance for the second quarter and half-year ended September 30, 2026, uploading the audio recording to its website later that day. The stock closed at ₹111.55 on November 6, 2026, up from the previous close of ₹108.79.

- Interim Dividend: JM Financial declared an interim dividend of ₹1.65 per share; the record date is November 11, 2026.
- Earnings Call: An earnings conference call for Q2 and H1 FY2027 was held on November 5, 2026, with the audio recording uploaded to the company website.
- Price Movement: The stock price rose to ₹111.55 on November 6, 2026, compared to the previous close of ₹108.79.

- [SERIES:EQ |PURPOSE:INTERIM DIVIDEND - RS 1.65 PER SHARE |FACE VALUE:1 |RECORD DATE:11-Nov-2026 |BOOK CLOSURE START DATE:- |BOOK CLOSURE END DATE:-](https://www.nseindia.com/companies-listing/corporate-filings-actions)
- [JM Financial Limited has informed the Exchange about Link of Recording |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/JMFINANCIL_05112026195317_AudiorecordingexchangeintimationQ2FY27upload.pdf)
- [JM Financial Limited has informed the Exchange about Audio Recording/Video Recording |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_2447_WebXMLFile_20261105_195947236.xml)

### Official Filings

JM Financial Limited’s Board approved Q2FY27 (quarter ended September 30, 2026) financial results on November 4, 2026, reporting consolidated revenue of ₹1,056 crores and a profit after tax (PAT) of ₹240 crores. Statutory auditors KKC & Associates LLP issued unmodified limited review reports on both standalone and consolidated results. The company declared an interim dividend of ₹1.65 per equity share for FY 2026-27, with a record date of November 11, 2026, and payment scheduled on or after November 20, 2026.

Operational highlights indicate the company ranked #1 by deal value in IPOs and QIPs for H1FY27, closing 26 capital market transactions worth approximately ₹83,000 crores in Q2FY27. Loan book growth was reported across private markets (22% YoY), wealth management (30% YoY), and affordable home loans (AUM up 30% YoY). Capital structure changes include an increase in paid-up capital to ₹95.70 crore following the allotment of 45,000 shares upon employee stock option exercises. Additionally, wholly owned subsidiary JM Financial Credit Solutions Limited increased its indirect holding in step-down subsidiary JM Financial Asset Reconstruction Company Limited from 81.77% to 84.87% via a rights issue subscription of ₹162.59 crore.

- Financial Performance: Consolidated revenue of ₹1,056 crores and PAT of ₹240 crores for Q2FY27; auditors issued unmodified limited review reports.
- Dividend Declaration: Interim dividend of ₹1.65 per share declared; record date is November 11, 2026, with payment on or after November 20, 2026.
- Capital Market Activity: Ranked #1 by deal value in IPOs and QIPs for H1FY27; closed 26 transactions worth ~₹83,000 crores in Q2FY27.
- Segment Growth: Loan book/AUM growth reported at 22% YoY in private markets, 30% YoY in wealth management, and 30% YoY in affordable home loans.

- [SERIES:EQ |PURPOSE:INTERIM DIVIDEND - RS 1.65 PER SHARE |FACE VALUE:1 |RECORD DATE:11-Nov-2026 |BOOK CLOSURE START DATE:- |BOOK CLOSURE END DATE:-](https://www.nseindia.com/companies-listing/corporate-filings-actions)
- [JM Financial Limited has informed the Exchange about Link of Recording |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/JMFINANCIL_05112026195317_AudiorecordingexchangeintimationQ2FY27upload.pdf)
- [JM Financial Limited has informed the Exchange about Audio Recording/Video Recording |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_2447_WebXMLFile_20261105_195947236.xml)
- [JM Financial Limited has informed the Exchange about Audio Recording/Video Recording |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_2447_WebXMLFile_20261105_205303078.xml)
- [JM Financial Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/JMFINANCIL_04112026172519_OutcomeoftheBoardMeeting04112026upload.pdf)
- [JM Financial Limited has informed the Exchange that Record date for the purpose of Interim Dividend is November 11, 2026. |SUBJECT: Record Date](https://nsearchives.nseindia.com/corporate/JMFINANCIL_04112026174245_OutcomeoftheBoardMeeting04112026upload.pdf)
- [JM Financial Limited has informed the Exchange that Board of Directors at its meeting held on November 4, 2026, declared Interim Dividend of Rs. 1.65 per equity share for the financial year 2026-27. |SUBJECT: Dividend](https://nsearchives.nseindia.com/corporate/JMFINANCIL_04112026173804_OutcomeoftheBoardMeeting04112026upload.pdf)
- [JM Financial Limited has informed the Exchange regarding a press release dated November 4, 2026, titled "JM Financial Limited reports consolidated revenue of Rs. 1,056 crores and PAT of Rs. 240 crores for Q2FY27; Ranked #1 by deal value in IPOs and QIPs for H1FY27; Growth in loan book across private markets (22% YoY), wealth management (30% YoY) and affordablehome loans (30% YoY)." |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/JMFINANCIL_04112026175432_PressRelease04112026upload.pdf)

### Fundamentals

JM Financial’s FY2026 performance presents a divergence between top-line contraction and bottom-line resilience. While sales declined 4.2% year-on-year to ₹4,223 crore in FY2026, net profit surged 55% to ₹1,201 crore, driven by a significant reduction in interest costs from ₹1,305 crore to ₹999 crore. This efficiency gain supported a strong Return on Equity of 12% for the last year. However, earnings quality faces scrutiny as Cash Flow from Operations dropped sharply to ₹581 crore in FY2026 from ₹5,569 crore in FY2025, with CFO/EBITDA falling to 30%. The working capital cycle also deteriorated, with Debtor Days rising to 124 days in Mar 2026. In the most recent quarters (Q1-Q2 FY2026-27), sequential pressure is evident: revenue fell from ₹1,201 crore to ₹1,032 crore, and net profit decreased from ₹369 crore to ₹228 crore, despite a slight rise in interest earned.

- {'point': 'Profitability vs. Revenue Divergence: Net profit rose 55% YoY to ₹1,201 crore in FY2026 despite a 4.2% sales decline, aided by lower finance costs.'}
- {'point': 'Earnings Quality Signal: CFO dropped to ₹581 crore in FY2026 from ₹5,569 crore in FY2025, indicating weaker cash conversion relative to operating profits.'}
- {'point': 'Recent Sequential Slowdown: Q2 FY2026-27 revenue fell to ₹1,032 crore and net profit to ₹228 crore, down sequentially from Q1 figures.'}
- {'point': 'Liquidity Management: Working capital efficiency weakened, with Debtor Days increasing to 124 days in Mar 2026 from 53 days in Mar 2025.'}

### Bear Case

As of November 6, 2026, JM Financial (NSE) exhibits a pronounced bearish technical setup with significant downside momentum. The stock closed at ₹111.55, trading below key moving averages, as indicated by negative slopes for the 20-day EMA (-1.63), 20-day SMA (-2.9), and 50-day SMA (-1.71). The Supertrend indicator is bearish on both daily and monthly timeframes, while the Directional Movement Index shows strong selling pressure with the -DI (30.7) significantly outweighing the +DI (12.09).

Performance metrics reflect substantial erosion over recent periods. The stock has declined 42.2% from its current peak, approaching its maximum historical drawdown of 45.0%. Year-to-date returns stand at -24.4%, with a one-year return of -31.1%. Volatility remains elevated, with annualized volatility at 44.0% and an Average True Range (ATR) of 4.22%, indicating wide price swings that increase execution risk.

Near-term price action faces immediate resistance at ₹113.67 (1.90% above), while support is thin, located just 0.29% lower at ₹111.23. The convergence of weak trend indicators, high volatility, and deep drawdowns suggests a challenging market environment for the equity.

- Bearish Trend Confirmation: Supertrend is bearish on daily and monthly charts; -DI (30.7) dominates +DI (12.09), and all key moving average slopes are negative.
- Severe Drawdown: Current drawdown stands at -42.2%, nearing the maximum drawdown of -45.0%, with YTD returns at -24.4% and 1-year returns at -31.1%.
- High Volatility Risk: Annualized volatility is 44.0% with an ATR of 4.22%, reflecting significant price instability and downside deviation of 26.3%.
- Fragile Support Levels: Immediate support is weak at ₹111.23 (0.29% below close), while resistance begins closely at ₹113.67 (1.90% above), limiting upside potential.

- [SERIES:EQ |PURPOSE:INTERIM DIVIDEND - RS 1.65 PER SHARE |FACE VALUE:1 |RECORD DATE:11-Nov-2026 |BOOK CLOSURE START DATE:- |BOOK CLOSURE END DATE:-](https://www.nseindia.com/companies-listing/corporate-filings-actions)
- [JM Financial Limited has informed the Exchange about Link of Recording |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/JMFINANCIL_05112026195317_AudiorecordingexchangeintimationQ2FY27upload.pdf)
- [JM Financial Limited has informed the Exchange about Audio Recording/Video Recording |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_2447_WebXMLFile_20261105_195947236.xml)
- [JM Financial Limited has informed the Exchange about Audio Recording/Video Recording |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_2447_WebXMLFile_20261105_205303078.xml)
- [JM Financial Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/JMFINANCIL_04112026172519_OutcomeoftheBoardMeeting04112026upload.pdf)
- [JM Financial Limited has informed the Exchange that Record date for the purpose of Interim Dividend is November 11, 2026. |SUBJECT: Record Date](https://nsearchives.nseindia.com/corporate/JMFINANCIL_04112026174245_OutcomeoftheBoardMeeting04112026upload.pdf)
- [JM Financial Limited has informed the Exchange that Board of Directors at its meeting held on November 4, 2026, declared Interim Dividend of Rs. 1.65 per equity share for the financial year 2026-27. |SUBJECT: Dividend](https://nsearchives.nseindia.com/corporate/JMFINANCIL_04112026173804_OutcomeoftheBoardMeeting04112026upload.pdf)
- [JM Financial Limited has informed the Exchange regarding a press release dated November 4, 2026, titled "JM Financial Limited reports consolidated revenue of Rs. 1,056 crores and PAT of Rs. 240 crores for Q2FY27; Ranked #1 by deal value in IPOs and QIPs for H1FY27; Growth in loan book across private markets (22% YoY), wealth management (30% YoY) and affordablehome loans (30% YoY)." |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/JMFINANCIL_04112026175432_PressRelease04112026upload.pdf)

### FAQs

**What corporate action has JM Financial announced for November 2026?**

JM Financial declared an interim dividend of ₹1.65 per share. The record date is set for November 11, 2026. Shareholders must be on the company's register by this date to qualify for the payout.

**How has the stock performed over the past year and year-to-date?**

The stock has declined significantly over longer horizons. It is down -31.1% over the last one year and -24.4% year-to-date as of November 6, 2026. Short-term momentum shows a -10.0% return over the past month.

**What are the current technical support and resistance levels?**

Trading near ₹111.55, immediate support sits at ₹111.23, with a pivot level at ₹109.64. Resistance begins at ₹113.67 (1.9% above) and extends to ₹115.26. Technical indicators show a bearish trend across daily, weekly, and monthly timeframes.

**What recent investor engagement activities have taken place?**

On November 5, 2026, the company held an earnings conference call discussing performance for the half-year ended September 30, 2026. An audio recording of this call was uploaded to the company website for public access.

- [SERIES:EQ |PURPOSE:INTERIM DIVIDEND - RS 1.65 PER SHARE |FACE VALUE:1 |RECORD DATE:11-Nov-2026 |BOOK CLOSURE START DATE:- |BOOK CLOSURE END DATE:-](https://www.nseindia.com/companies-listing/corporate-filings-actions)
- [JM Financial Limited has informed the Exchange about Link of Recording |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/JMFINANCIL_05112026195317_AudiorecordingexchangeintimationQ2FY27upload.pdf)
- [JM Financial Limited has informed the Exchange about Audio Recording/Video Recording |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_2447_WebXMLFile_20261105_195947236.xml)
- [JM Financial Limited has informed the Exchange about Audio Recording/Video Recording |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_2447_WebXMLFile_20261105_205303078.xml)
- [JM Financial Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/JMFINANCIL_04112026172519_OutcomeoftheBoardMeeting04112026upload.pdf)
- [JM Financial Limited has informed the Exchange that Record date for the purpose of Interim Dividend is November 11, 2026. |SUBJECT: Record Date](https://nsearchives.nseindia.com/corporate/JMFINANCIL_04112026174245_OutcomeoftheBoardMeeting04112026upload.pdf)
- [JM Financial Limited has informed the Exchange that Board of Directors at its meeting held on November 4, 2026, declared Interim Dividend of Rs. 1.65 per equity share for the financial year 2026-27. |SUBJECT: Dividend](https://nsearchives.nseindia.com/corporate/JMFINANCIL_04112026173804_OutcomeoftheBoardMeeting04112026upload.pdf)
- [JM Financial Limited has informed the Exchange regarding a press release dated November 4, 2026, titled "JM Financial Limited reports consolidated revenue of Rs. 1,056 crores and PAT of Rs. 240 crores for Q2FY27; Ranked #1 by deal value in IPOs and QIPs for H1FY27; Growth in loan book across private markets (22% YoY), wealth management (30% YoY) and affordablehome loans (30% YoY)." |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/JMFINANCIL_04112026175432_PressRelease04112026upload.pdf)
## Technical analytics

- As of: 2026-11-06
- Daily trend: Strong Downtrend
- Weekly trend: Weak Downtrend
- Pivot point: ₹109.64
- Risk regime: Higher Price Risk

### Support levels
- 105.5
- 95.825
- 87

### Resistance levels
- 117.484375
- 122.4075
- 126.13624999999999

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | +2.54% |
| return_10 | +5.05% |
| return_1m | -10.04% |
| return_1y | -31.11% |
| return_20 | -7.50% |
| return_3m | -14.05% |
| return_5 | +3.50% |
| return_6m | -22.01% |
| return_since_start | -14.22% |
| return_ytd | -24.40% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | high_risk |
| label | Higher price risk |
| summary | Recent drawdown or price variability is materially high and may lead to larger short-term outcomes. |
| maximum_drawdown | -44.98% |
| annualized_volatility | +44.01% |

## Quarterly financials

- Latest complete quarter: fy27_q2

# JM Financial Limited Q2 FY2026-27: Profit before tax falls 29% sequentially

JM Financial’s income was ₹1,056 crore in Q2 FY2026-27, down 13.8% from Q1, while profit before tax fell 29.1% to ₹323 crore. Profit for the period declined 38.2% sequentially to ₹228 crore; loans rose to ₹11,854 crore at quarter-end, while cash and cash equivalents stood at ₹219 crore.

## Revenue and profitability

Revenue from operations was ₹1,032 crore, down 14.0% from ₹1,201 crore in Q1 FY2026-27 and broadly unchanged from ₹1,031 crore in Q2 FY2025-26. Income was ₹1,056 crore, compared with ₹1,225 crore in Q1 and ₹1,044 crore a year earlier—down 13.8% sequentially and up 1.1% year on year.

Expenses fell 4.7% sequentially to ₹733 crore, a smaller decline than income. Profit before tax was ₹323 crore, down from ₹456 crore in Q1 and ₹344 crore in Q2 FY2025-26. Tax expense rose 10% sequentially to ₹95.5 crore.

Profit from continuing operations was ₹227.5 crore, compared with ₹368.7 crore in Q1 and ₹254.9 crore a year earlier. Total profit for the period was ₹227.7 crore, down from ₹368.6 crore in Q1 and ₹261.9 crore in Q2 FY2025-26. Of the current-quarter total, ₹239.5 crore was attributable to owners of the parent, while non-controlling interests recorded a loss of ₹11.9 crore. Basic and diluted earnings per share were ₹2.50, versus ₹3.05 in Q1 and ₹2.82 a year earlier.

## Income and expense lines

Interest earned increased 3.5% sequentially to ₹437 crore, while finance costs rose 4.8% to ₹258 crore. Fees and commission income was ₹355 crore. Net gains on fair value changes were ₹39.3 crore, and gains on derecognition of financial instruments carried at amortised cost were ₹23.3 crore. Other income was ₹23.9 crore, slightly below Q1’s ₹24.1 crore.

Employee benefit expense was ₹294 crore and fees and commission expense was ₹86.2 crore. Other expenses declined 8.3% sequentially to ₹87.5 crore. Impairment on financial instruments was a reversal of ₹15.4 crore, compared with an expense of ₹13.6 crore in Q1.

## Cash flow and liquidity

Operating activities used ₹1,707 crore during the quarter; investing activities generated ₹2,028 crore and financing activities used ₹574 crore. Reported free cash flow was ₹321 crore.

Cash and cash equivalents were ₹219 crore at 30 September 2026, down from ₹472 crore at 31 March 2026 and ₹1,180 crore at 30 September 2025. Other bank balances were ₹3,954 crore, compared with ₹4,396 crore at March 2026. Investments stood at ₹4,875 crore, down from ₹6,209 crore at March, while trade receivables were ₹1,376 crore versus ₹1,431 crore.

## Balance sheet and funding

Loans rose to ₹11,854 crore at 30 September 2026, from ₹9,832 crore at 31 March 2026 and ₹9,243 crore a year earlier. Financial assets totalled ₹24,388 crore and total assets were ₹25,787 crore at quarter-end.

Debt securities stood at ₹8,557 crore and borrowings at ₹2,771 crore. Dues to creditors other than micro and small enterprises were ₹1,380 crore, compared with ₹2,173 crore at March 2026. Equity attributable to owners of the parent increased to ₹11,046 crore from ₹10,657 crore at March, while non-controlling interest declined to ₹513 crore from ₹701 crore.

## Key Takeaway

JM Financial’s Q2 income and profit were below Q1, and profit before tax also fell year on year. Loan balances expanded, but quarter-end cash and cash equivalents declined from March, while operating activities recorded a substantial cash outflow; investing activities generated cash during the quarter.

### Ratios

## Shareholding pattern

- Quarter: FY2027-Q1
- As of: 2026-06-30
- Promoter holding: +57.03%
- FII holding: +15.74%
- DII holding: +5.50%
- Mutual fund holding: +4.73%
- Retail holding: +11.90%
- Promoter pledged: +0.00%

### Major reported shareholders

- J M Financial and Investment Consultancy Services Private Limited — +24.77% (Bodies Corporate)
- Nimesh Kampani — +13.11%
- J M Assets Management Private Limited — +11.36% (Bodies Corporate)
- Aruna Kampani — +2.82%
- TIMF HOLDINGS — +2.36%
- BARON EMERGING MARKETS FUND — +2.20%
- SNK Investments Private Limited — +1.95% (Bodies Corporate)
- QUANT MUTUAL FUND - QUANT SMALL CAP FUND — +1.75%
- ICICI PRUDENTIAL (VARIOUS SCHEMES) — +1.54%
- Vishal Kampani — +1.36%

## Official filings

- 2026-11-06 — Corporate Action Notice: JM Financial Limited - Ex-Date: 11-Nov-2026 — [Official attachment](https://www.nseindia.com/companies-listing/corporate-filings-actions)
- 2026-11-06 — Corporate Action Notice: JM Financial Limited - Ex-Date: 11-Nov-2026 — [Official attachment](https://www.nseindia.com/companies-listing/corporate-filings-actions)
- 2026-11-06 — Corporate Action Notice: JM Financial Limited - Ex-Date: 11-Nov-2026 — [Official attachment](https://www.nseindia.com/companies-listing/corporate-filings-actions)
- 2026-11-05 — Generic Announcement: JM Financial Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/JMFINANCIL_05112026195317_AudiorecordingexchangeintimationQ2FY27upload.pdf)
- 2026-11-05 — Generic Announcement: JM Financial Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_2447_WebXMLFile_20261105_195947236.xml)
- 2026-11-05 — Generic Announcement: JM Financial Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_2447_WebXMLFile_20261105_205303078.xml)
- 2026-11-04 — Generic Announcement: JM Financial Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/JMFINANCIL_04112026172519_OutcomeoftheBoardMeeting04112026upload.pdf)
- 2026-11-04 — Generic Announcement: JM Financial Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/JMFINANCIL_04112026174245_OutcomeoftheBoardMeeting04112026upload.pdf)
- 2026-11-04 — Generic Announcement: JM Financial Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/JMFINANCIL_04112026173804_OutcomeoftheBoardMeeting04112026upload.pdf)
- 2026-11-04 — Press Release: JM Financial Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/JMFINANCIL_04112026175432_PressRelease04112026upload.pdf)
- 2026-11-04 — Earnings Presentation: JM Financial Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/JMFINANCIL_04112026195631_InvestorPresentation04112026upload.pdf)
- 2026-11-04 — Generic Announcement: JM Financial Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/OUTCOME_2447_WebXMLFile_20261104_205203935.xml)
- 2026-11-04 — Financial Results Filing: JM Financial Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_NBFC_INDAS_1753296_04112026110227_WEB.xml)
- 2026-11-04 — Financial Results Filing: JM Financial Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_NBFC_INDAS_1753294_04112026110131_WEB.xml)
- 2026-10-30 — Generic Announcement: JM Financial Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2447_WebXMLFile_20261030_190644730.xml)
- 2026-10-30 — Board Meeting Notice: JM Financial Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2447_WebXMLFile_20261030_190644730.xml)
- 2026-10-29 — Generic Announcement: JM Financial Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/JMFINANCIL_29102026183206_JMFLEarningscallintimationQ2FY27.pdf)
- 2026-10-29 — Generic Announcement: JM Financial Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_2447_WebXMLFile_20261029_191451625.xml)
- 2026-10-13 — Generic Announcement: JM Financial Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_2447_WebXMLFile_20261013_153407440.xml)
- 2026-10-12 — Generic Announcement: JM Financial Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/JMFINANCIL_12102026180752_Regulation74ofSEBIDP30092026.pdf)
- 2026-10-12 — Generic Announcement: JM Financial Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/JMFINANCIL_12102026221110_Draft_Intimation_-_Incorporation_of_Step_Down_Subsidiaryupload.pdf)
- 2026-10-10 — Generic Announcement: JM Financial Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/JMFINANCIL_10102026164502_Advertisementspecialwindowforrelodgementphysicalsharessigned.pdf)
- 2026-10-06 — Board Meeting Notice: JM Financial Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/JMFINANCIL_06102026181525_Reg29IntimationofBMupload.pdf)
- 2026-10-06 — Generic Announcement: JM Financial Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2447_WebXMLFile_20261006_191037727.xml)
- 2026-10-06 — Board Meeting Notice: JM Financial Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_2447_WebXMLFile_20261006_191037727.xml)

## News and market events

- 2026-10-05 — BUSINESS: **Nykaa Q2 update: JM sees 'excellent trends' in BPC & Fashion; stock up 5%** — Nykaa said that the Beauty vertical maintained its healthy performance in Q2 with net sales value (NSV) and Net Revenue growth expected to be in late 30s. — [Source](https://www.business-standard.com/markets/news/nykaa-q2-update-jm-sees-excellent-trends-in-bpc-fashion-stock-up-5-126100500310_1.html)
- 2026-10-01 — Mint: **Bajaj Auto, Hero MotoCorp, M&M tumble: Nifty Auto falls over 3% to lead sectoral loss — what’s next for the sector?** — The Nifty Auto index dropped more than 3% amid poor sales results and new fuel-efficiency regulations. Bajaj Auto and M&M reported declines, impacting overall sentiment in the automobile sector. — [Source](https://www.livemint.com/market/stock-market-news/bajaj-auto-hero-motocorp-m-m-tumble-nifty-auto-falls-over-3-to-lead-sectoral-losses-what-s-next-for-the-sector-11790832662304.html)
- 2026-09-30 — CNBC-TV18: **Inox Clean Energy files DRHP for ₹10,000-crore IPO** — The renewable energy company plans to raise up to ₹8,000 crore through a fresh issue of shares, while promoter Devansh Jain will offer shares worth up to ₹2,000 crore through an offer-for-sale (OFS), according to a BSE filing. — [Source](https://www.cnbctv18.com/market/inox-clean-energy-files-drhp-ipo-papers-to-raise-funds-fresh-issue-ofs-debt-repayment-proceeds-20001725.htm)
- 2026-09-30 — BUSINESSTODAY: **Orient Cables IPO: How to check allotment status on BSE, NSE & Kfin; odds of getting shares & GMP** — Orient Cables (India) IPO, Orient Cables IPO, Orient Cables IPO allotment status, Orient Cables IPO application status, Orient Cables IPO allotment, Orient Cables IPO GMP, Orient Cables IPO GMP today, Orient Cables IPO allotment odds, Orient Cables IPO listing date, Orient Cables IPO subscription status, Orient Cables IPO allotment probability, Orient Cables IPO status check, Orient Cables IPO share allotment, Orient Cables IPO registrar Kfin Technologies, Orient Cables IPO NSE allotment status, Orient Cables IPO BSE allotment status — [Source](https://www.businesstoday.in/markets/ipo-corner/story/orient-cables-ipo-how-to-check-allotment-status-on-bse-nse-kfin-odds-of-getting-shares-gmp-558671-2026-09-30)
- 2026-09-29 — CNBC-TV18: **JSW Cement approves merger with Shiva Cement; shareholders to get 5 shares for every 41** — Shares of JSW Cement Ltd ended at ₹112.75, up by ₹0.20, or 0.18%, on the BSE. — [Source](https://www.cnbctv18.com/market/stocks/jsw-cement-share-price-approves-merger-with-shiva-cement-shareholders-to-get-5-shares-for-every-41-20001438.htm)
- 2026-09-29 — BUSINESSTODAY: **Surat-based JB Ecotex files DRHP with SEBI to launch IPO; check key details** — Upcoming IPOs, JB Ecotex, JB Ecotex IPO, JB Ecotex IPO drhp, JB Ecotex drhp, JB Ecotex IPO details — [Source](https://www.businesstoday.in/markets/ipo-corner/story/surat-based-jb-ecotex-files-drhp-with-sebi-to-launch-ipo-check-key-details-558501-2026-09-29)
- 2026-09-29 — Economic Times: **Orient Cables IPO Day 3: GMP at 27%; subscription crosses 8 times. key details inside** — The Rs 552-crore Orient Cables IPO entered its final day of bidding on September 29 amid strong investor demand. In the grey market, the IPO was commanding a 27% premium over its issue price. The book-built issue comprises a fresh issue of 1.18 crore shares worth Rs 320 crore and an OFS of 85.29 lakh shares worth Rs 232 crore. — [Source](https://economictimes.indiatimes.com/markets/ipos/fpos/orient-cables-ipo-day-3-gmp-at-27-subscription-crosses-8-times-key-details-inside/articleshow/134557064.cms)
- 2026-09-29 — MONEYCONTROL: **Orient Cables IPO subscribed over 11x so far on final day of bidding; GMP at 27%** — Orient Cables IPO, Orient Cables, Orient Cables IPO GMP, Orient Cables GMP — [Source](https://www.moneycontrol.com/news/business/ipo/orient-cables-ipo-gmp-issue-subscribed-over-11x-on-final-day-of-bidding-gmp-at-27-14040706.html)
- 2026-09-29 — MONEYCONTROL: **B2B jewellery maker Royal Chain files draft papers for Rs 1,000-crore IPO** — Royal Chain IPO news,Royal Chain IPO details,Royal Chain IPO size,Royal Chain IPO DRHP,Royal Chain IPO update — [Source](https://www.moneycontrol.com/news/business/ipo/b2b-jewellery-maker-royal-chain-files-draft-papers-for-rs-1-000-crore-ipo-14040643.html)
- 2026-09-29 — BUSINESSTODAY: **Varmora Granito makes a positive stock market debut; shares list at 5% premium on NSE** — Varmora Granito, Varmora Granito IPO, Varmora Granito IPO shares listing price, Varmora Granito IPO shares listing, Varmora Granito IPO listing price, Varmora Granito IPO share price, Varmora Granito IPO gmp, Varmora Granito IPO latest gmp, Varmora Granito IPO grey market premium, Varmora Granito IPO news — [Source](https://www.businesstoday.in/markets/stocks/story/varmora-granito-makes-a-positive-stock-market-debut-shares-list-at-5-premium-on-nse-558418-2026-09-29)
- 2026-09-29 — CNBC-TV18: **Varmora Granito IPO listing: Grey market points to muted debut; key details to track** — The Gujarat-based tiles and bathware manufacturer’s IPO was open for subscription from September 22 to September 24 and received bids for 5.34 crore shares against 3.39 crore shares on offer. The issue was subscribed 1.58 times. — [Source](https://www.cnbctv18.com/market/varmora-granito-ipo-listing-today-share-price-debuts-premium-discount-gmp-grey-market-muted-key-details-20000449.htm)
- 2026-09-28 — Economic Times: **Clean Max Enviro bulk deal: Augment India divests stakes worth Rs 1,096 crore; Goldman Sachs, HSBC India among buyers** — Augment India I Holdings sold 85.03 lakh Clean Max Enviro Energy Solutions shares worth about Rs 1,096 crore through NSE bulk deals. Goldman Sachs, HSBC and ICICI Prudential Life Insurance were among the buyers, while brokerages retain positive views on CleanMax. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/clean-max-enviro-bulk-deal-augment-india-divests-stakes-worth-rs-1096-crore-goldman-sachs-hsbc-india-among-buyers/articleshow/134546538.cms)
- 2026-09-28 — BUSINESSTODAY: **TCS, Infosys, HCL Tech, TechM, Wipro, LTM: Check fresh targets for top IT stocks ahead of Q2 results** — Indian IT stocks, IT stocks to buy, TCS shares target price, Infosys target price, HCL Tech target price, Wipro target price, Tech Mahindra target price, LTM target price, IT sector Q2FY27, IT stocks Q2FY27, IT sector outlook, IT stocks outlook, TCS Q2FY27, Infosys Q2FY27, HCL Tech Q2FY27, Wipro Q2FY27, Tech Mahindra Q2FY27, IT sector earnings, IT stocks India, NSE IT index, IT sector growth, Indian IT sector — [Source](https://www.businesstoday.in/markets/stocks/story/tcs-infosys-hcl-tech-techm-wipro-ltm-check-fresh-targets-for-top-it-stocks-ahead-of-q2-results-558244-2026-09-28)
- 2026-09-28 — Economic Times: **IPO allotments today: How to check allotment status for Elevate Campuses, Swastika Infra & ArMee Infotech on NSE, BSE & registrars?** — IPO allotments for Elevate Campuses, Swastika Infra and ArMee Infotech are expected on September 28, following subscription between September 23 and 25. Investors can check status through NSE, BSE and respective registrars. The three companies are scheduled to list on September 30, with refunds expected by September 29 for unsuccessful applicants. — [Source](https://economictimes.indiatimes.com/markets/ipos/fpos/ipo-allotments-today-how-to-check-allotment-status-for-elevate-campuses-swastika-infra-armee-infotech-on-nse-bse-registrars/articleshow/134534834.cms)
- 2026-09-28 — MONEYCONTROL: **Defence electronics maker Tonbo Imaging gets SEBI approval for IPO** — Tonbo Imaging IPO, defence electronics IPO India, defence IPO India — [Source](https://www.moneycontrol.com/news/business/markets/defence-electronics-maker-tonbo-imaging-gets-sebi-approval-for-ipo-14039892.html)
- 2026-09-28 — MONEYCONTROL: **Orient Cables IPO subscribed 5x so far on Day 2; GMP at 33%** — Orient Cables IPO, Orient Cables, Orient Cables IPO GMP, Orient Cables GMP — [Source](https://www.moneycontrol.com/news/business/ipo/orient-cables-ipo-subscribed-5x-so-far-on-day-2-gmp-at-33-14039878.html)
- 2026-09-28 — MONEYCONTROL: **Elevate Campuses IPO allotment today; check status on BSE, NSE and registrar** — Elevate Campuses IPO, Elevate Campuses IPO GMP, Elevate Campuses IPO GMP today, Elevate Campuses IPO subscription, Elevate Campuses IPO Day 1 subscription, Elevate Campuses IPO latest GMP, Elevate Campuses IPO subscription status, Elevate Campuses IPO price band, Elevate Campuses IPO allotment, Elevate Campuses IPO listing date, Elevate Campuses IPO news, Elevate Campuses IPO grey market premium, Elevate Campuses IPO 2026, Elevate Campuses IPO NSE, Elevate Campuses IPO BSE, Elevate Campuses IPO details, Elevate Campuses IPO anchor investors, Elevate Campuses IPO Rs 945 crore anchor book, Eleva — [Source](https://www.moneycontrol.com/news/business/ipo/elevate-campuses-ipo-allotment-today-check-status-on-bse-nse-and-registrar-14039671.html)
- 2026-09-28 — Economic Times: **Block deal alert! Clean Max shares in focus as Augment India likely to sell stake worth Rs 1,063 crore** — Clean Max Enviro Energy Solutions will be in focus after Augment India Holdings LLC is reportedly looking to sell a 7.25% stake through a block deal worth Rs 1,062.8 crore. The stake sale comes days after Macquarie and JM Financial initiated coverage on the stock, with both brokerages highlighting strong C&I renewable energy demand and long-term growth potential. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/block-deal-alert-clean-max-shares-in-focus-as-augment-india-likely-to-sell-stake-worth-rs-1063-crore/articleshow/134530673.cms)
- 2026-09-25 — Economic Times: **CleanMax Enviro block deal: Augment India Holdings likely to divest 85 lakh shares worth Rs 1,063 crore** — Augment India Holdings may sell 85 lakh Clean Max Enviro Energy Solutions shares, representing a 7.25% stake, through a Rs 1,062.8 crore block deal. The reported floor price of Rs 1,250 implies a potential discount to market price. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/cleanmax-enviro-block-deal-augment-india-holdings-likely-to-divest-85-lakh-shares-worth-rs-1063-crore/articleshow/134488759.cms)
- 2026-09-25 — The Hindu: **JSW One Platforms moves SEBI for ₹3,054-cr IPO** — The offer comprises a fresh issue worth ₹1,300 crore and an offer-for-sale of ₹1,754 crore — [Source](https://www.thehindubusinessline.com/markets/jsw-one-platforms-moves-sebi-for-3054-cr-ipo/article71509523.ece)
- 2026-09-25 — MONEYCONTROL: **Radico Khaitan shares gain as JM Financial sees up to 16% upside** — Radico Khaitan shares, Radico Khaitan share price today news, Radico Khaitan shares today, Radico Khaitan share price target — [Source](https://www.moneycontrol.com/news/business/markets/radico-khaitan-shares-gain-as-jm-financial-sees-up-to-16-upside-14038287.html)
- 2026-09-25 — Economic Times: **$500 billion flywheel! Macquarie lists 3 drivers for strong growth in capital market stocks, lists top picks** — Macquarie projects a robust growth trajectory for India's capital market sector between fiscal years 2026 to 2030. This optimistic outlook hinges on a notable redirection of household savings towards market-based financial products. Key growth drivers identified are financialisation, equitisation, and productisation, which together enhance investment opportunities. Consequently, brokers and exchanges are likely to see substantial advantages from an expanding investor demographic. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/500-billion-flywheel-macquarie-lists-3-drivers-for-strong-growth-in-capital-market-stocks-lists-top-picks/articleshow/134480879.cms)
- 2026-09-25 — BUSINESSTODAY: **Sajjan Jindal-backed JSW One Platforms filed DRHP with SEBI to launch IPO; key details** — JSW One Platforms, JSW One Platforms IPO, JSW One Platforms IPO news, JSW One Platforms IPO drhp, JSW One Platforms DRHP, Sajjan Jindal, Jindal Group, upcoming IPOs — [Source](https://www.businesstoday.in/markets/ipo-corner/story/sajjan-jindal-backed-jsw-one-platforms-filed-drhp-with-sebi-to-launch-ipo-key-details-557844-2026-09-25)
- 2026-09-25 — MONEYCONTROL: **Orient Cables IPO subscribed 87% so far on Day 1; GMP at 39%** — Orient Cables IPO, Orient Cables, Orient Cables IPO GMP, Orient Cables GMP — [Source](https://www.moneycontrol.com/news/business/ipo/orient-cables-ipo-subscribed-87-so-far-on-day-1-gmp-at-39-14038198.html)
- 2026-09-25 — BUSINESSTODAY: **Dixon Technologies may end FY27 with volumes of 38-40 mn smartphones as Vivo ramp-up nears: Report** — Dixon Technologies, smartphone volumes FY27, Vivo manufacturing, Motorola exports, Transsion exports, IT hardware manufacturing, telecom business, display sub-assembly, camera module sub-assembly, margin expansion — [Source](https://www.businesstoday.in/markets/stocks/story/dixon-technologies-may-end-fy27-with-38-40-million-smartphones-as-vivo-ramp-up-nears-report-557808-2026-09-25)

## Business profile

**Strategic vision:** Integrated Indian financial services group with diverse business lines.

### Business segments
- **Corporate Advisory and Capital Markets:** This segment serves institutional, corporate, promoter, government, and ultra-high-net-worth clients, encompassing investment banking, institutional equities, and research services.
- **Wealth and Asset Management:** This business includes wealth management, broking services, Portfolio Management Services (PMS), Equity & Debt Alternative Investment Funds (AIFs), and mutual fund operations.
- **Private Markets:** This segment comprises Private Credit, including corporate, bespoke, real estate, and distressed credit solutions, and investments in private equity funds and Real Estate Investment Trusts (REITs).
- **Affordable Home Loans:** This business focuses on providing affordable housing finance solutions.

### Competitive strengths
- Integrated and diversified financial services group
- Presence across India

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## Freshness and sources

- Data as of: 2026-11-06
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/jmfinancil
Markdown representation: https://faxioms.com/stocks/jmfinancil?render=md