# JMFINANCIL (JMFINANCIL) — Stock analysis

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

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹126.26
- Change: +3.06%
- As of: 2026-09-18
- 1D return: +3.09%
- 5D return: -0.74%
- 1M return: -2.21%
- Latest complete quarter: fy27_q1

## Faxioms Analysis

_As of 2026-09-18_

### Technical Outlook

As of September 18, 2026, JMFINANCIL is trading at ₹126.3, with a predominantly bearish technical stance across daily, weekly, and monthly timeframes. All observed moving averages and the Supertrend indicator are positioned above the current price on the daily chart, indicating downward pressure. This is mirrored on the weekly and monthly charts, where the price is also below key moving averages and the Supertrend. Recent price action includes a downward gap on September 11, 2026, and a moderate volume-driven upward move on September 18, 2026, alongside a wide intraday range on September 15, 2026. The stock is currently positioned near the lower end of its recent trading range, with nearest support identified at ₹125.67 and resistance at ₹128.8.

The stock exhibits a Hammer and Harami pattern on the weekly timeframe as of September 18, 2026. The daily trend shows an ADX of 13.64, suggesting a lack of strong trending momentum, while the weekly ADX is 8.85 and the monthly ADX is 28.24, indicating a stronger trend on the monthly scale. The annualized volatility stands at 44%, with a current drawdown of -35% and a maximum drawdown of -41%, highlighting elevated risk. The price is currently 0.5% above the nearest support level of ₹125.67 and 1.98% below the nearest resistance level of ₹128.8.

- The stock closed at ₹126.3 on September 18, 2026, with bearish signals across daily, weekly, and monthly timeframes.
- Nearest support is observed at ₹125.67, approximately 0.5% below the current price.
- Nearest resistance is observed at ₹128.8, approximately 1.98% above the current price.
- Active weekly patterns include Hammer and Harami as of September 18, 2026.
- Annualized volatility is 44%, with a current drawdown of -35%.

- Hammer
- Harami
- Bearish Engulfing Reversal
- Outside Bar

### News Context

This past week saw significant activity around Initial Public Offerings (IPOs) in the Indian market, with several companies either opening, closing, or reporting subscription levels. While not directly involving JMFINANCIL, these events provide market context. The Hero Motors IPO, which opened on September 16 and closed on September 18, comprised a fresh issue of ₹600 crore and an Offer for Sale of ₹400 crore. Reports indicated its grey market premium (GMP) fluctuated, rising 7% on Day 3. Separately, Karamtara Engineering, a newly listed entity, continued its strong performance. The stock reached a record high of ₹378.20 on September 18, marking a nearly 50% increase from its IPO price, following an IPO that was subscribed 62.63 times.

- Hero Motors IPO opened on September 16 and closed on September 18, with a total issue size of ₹1,000 crore (₹600 crore fresh issue and ₹400 crore Offer for Sale).
- Reports on September 18 noted the Hero Motors IPO's grey market premium had risen 7% on its third day.
- Karamtara Engineering's share price reached a record high of ₹378.20 on September 18, up nearly 50% from its IPO price.
- The Karamtara Engineering IPO was subscribed 62.63 times, indicating strong investor demand.

- Coforge share price: Brokerages bullish on its enterprise autonomy and AI strategy; check targets
- Elevate Campuses IPO opens Sept 23: Check price band, key details, business model, risks and more
- Hero Motors IPO: Issue subscribed over 4x so far on Day 3; GMP drops to 4%
- Newly listed Karamtara Engineering share price rally continues: Stock jumps 7.4% to record high, up 50% from IPO price
- Hero Motors IPO GMP rises 7% on Day 3; check key dates, review, subscription. Should you apply or not? | Stock Market News

### What Changed

JM Financial's stock traded at ₹126.3 on September 18, 2026, an increase from its previous price of ₹122.51. The company's profile on the NSE remains unchanged. Recent news and filings do not contain specific developments related to JM Financial; instead, they focus on other companies and their Initial Public Offerings (IPOs) or stock performance, such as Coforge, Elevate Campuses, Hero Motors, and Karamtara Engineering.

- JM Financial's stock price was ₹126.3 on September 18, 2026.
- The stock price increased from ₹122.51 prior to the observation date.
- The company's profile on the NSE remains unchanged.
- Recent news and filings do not include specific updates for JM Financial.

- Coforge share price: Brokerages bullish on its enterprise autonomy and AI strategy; check targets
- Elevate Campuses IPO opens Sept 23: Check price band, key details, business model, risks and more
- Hero Motors IPO: Issue subscribed over 4x so far on Day 3; GMP drops to 4%
- Newly listed Karamtara Engineering share price rally continues: Stock jumps 7.4% to record high, up 50% from IPO price
- Hero Motors IPO GMP rises 7% on Day 3; check key dates, review, subscription. Should you apply or not? | Stock Market News

### Official Filings

JM Financial Limited has received ESG ratings from two independent providers. On September 3, 2026, NSE Sustainability Ratings & Analytics Limited assigned the company a score of 76 in the 'Leader' category for FY 2025-26, based on public data. Separately, on August 20, 2026, ESG Risk Assessments & Insights Limited (ESG Risk.ai) provided an independent score of '69 (Strong)' for the same period. Both ratings were generated without direct engagement from the company. Additionally, on August 31, 2026, CRISIL Ratings Limited reaffirmed JM Financial's long-term bank loan facility and commercial paper ratings at CRISIL AA/Stable and CRISIL A1+ respectively, and assigned a CRISIL AA/Stable rating to its Non-Convertible Debentures. The company also announced a special window for shareholders to re-lodge physical transfer deeds executed before April 1, 2019, which remains open until February 4, 2027, as per SEBI directives.

- On September 3, 2026, NSE Sustainability Ratings & Analytics Limited assigned JM Financial an ESG score of 76 ('Leader') for FY 2025-26.
- On August 20, 2026, ESG Risk Assessments & Insights Limited assigned JM Financial an ESG score of '69 (Strong)' for FY 2025-26.
- On August 31, 2026, CRISIL Ratings Limited reaffirmed long-term bank loan and commercial paper ratings at CRISIL AA/Stable and CRISIL A1+ respectively, and assigned CRISIL AA/Stable to Non-Convertible Debentures.
- A special window for shareholders to re-lodge physical transfer deeds executed before April 1, 2019, is open until February 4, 2027.

- JM Financial Limited has informed the Exchange regarding Update-Acquisition/Scheme/Sale/Disposal-XBRL |SUBJECT: Update-Other Restructuring-XBRL
- JM Financial Limited has informed the Exchange about the ESG Rating provided by NSE Sustainability Ratings & Analytics Limited |SUBJECT: General Updates
- JM Financial Limited has informed the Exchange about Credit Rating |SUBJECT: Credit Rating
- JM Financial Limited has informed the Exchange about the ESG Rating provided by ESG Risk Assessments & Insights Limited |SUBJECT: General Updates
- JM Financial Limited has informed the Exchange about Copy of Newspaper Publication |SUBJECT: Copy of Newspaper Publication
- JM Financial Limited has informed the Exchange about transcript of the earnings conference call held on Tuesday, August 4, 2026. |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates
- JM Financial Limited has informed the Exchange about Transcripts - earnings or quarterly calls |SUBJECT: Analyst/Investor Meet Para A-XBRL
- JM Financial Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 03, 2026. Further, the company has informed the Exchange regarding voting results. |SUBJECT: Shareholders meeting

### Fundamentals

JM Financial's recent operating performance shows a notable increase in revenue and profitability. For Q1 FY2026-27, Revenue from Operations reached ₹1,200.53 crore, a significant rise from ₹949.12 crore in Q4 FY2025-26 and ₹999.36 crore in Q3 FY2025-26. This top-line growth was accompanied by an increase in Income to ₹1,224.66 crore in Q1 FY2026-27, up from ₹969.21 crore in Q4 FY2025-26. Expenses also rose to ₹769.12 crore in the latest quarter, compared to ₹726.11 crore in Q4 FY2025-26. The company reported a Profit Before Tax of ₹455.54 crore for Q1 FY2026-27, a substantial improvement from ₹243.10 crore in Q4 FY2025-26. Consequently, Profit Loss For Period (PAT) stood at ₹368.57 crore in Q1 FY2026-27, more than double the ₹161.92 crore reported in Q4 FY2025-26. Interest Earned also showed an upward trend, from ₹380.31 crore in Q3 FY2025-26 to ₹422.53 crore in Q1 FY2026-27.

The company's operating trajectory indicates a strong rebound in Q1 FY2026-27 after a dip in Q4 FY2025-26. The increase in Revenue from Operations and Income, coupled with a significant rise in Profit Before Tax and PAT, suggests improved operational efficiency or favorable market conditions. Investors may want to monitor the sustainability of this revenue growth and the management of expenses to understand its impact on future profitability and margins. The consistent increase in Interest Earned also points to potential growth in the company's lending or financial services segments.

- Revenue from Operations for Q1 FY2026-27 was ₹1,200.53 crore, up from ₹949.12 crore in Q4 FY2025-26.
- Profit Loss For Period (PAT) in Q1 FY2026-27 was ₹368.57 crore, a significant increase from ₹161.92 crore in Q4 FY2025-26.
- Profit Before Tax for Q1 FY2026-27 was ₹455.54 crore, compared to ₹243.10 crore in Q4 FY2025-26.
- Interest Earned increased to ₹422.53 crore in Q1 FY2026-27 from ₹380.31 crore in Q3 FY2025-26.
- Expenses in Q1 FY2026-27 were ₹769.12 crore, an increase from ₹726.11 crore in Q4 FY2025-26.

### Bear Case

The company's technical indicators suggest a cautious outlook. Daily and monthly trends are indicated as bearish, with the Super Trend indicator pointing to a bearish direction on both timeframes. The stock is trading below its 20-day and 50-day Simple Moving Averages (SMA) on a daily basis, and below its 20-day Exponential Moving Average (EMA) on a daily basis. The year-to-date return is negative, and the stock has experienced a significant drawdown of -35%, with a maximum drawdown of -41%.

- Daily and monthly technical trends are currently assessed as bearish.
- The Super Trend indicator signals a bearish direction on daily and monthly timeframes as of 2026-09-18.
- The stock price is trading below key moving averages, including the 20-day SMA (128.03) and 50-day SMA (126.33) on a daily basis.
- The year-to-date return stands at -14%, and the current drawdown is -35%, with a maximum drawdown recorded at -41%.

- Coforge share price: Brokerages bullish on its enterprise autonomy and AI strategy; check targets
- Elevate Campuses IPO opens Sept 23: Check price band, key details, business model, risks and more
- Hero Motors IPO: Issue subscribed over 4x so far on Day 3; GMP drops to 4%
- Newly listed Karamtara Engineering share price rally continues: Stock jumps 7.4% to record high, up 50% from IPO price
- Hero Motors IPO GMP rises 7% on Day 3; check key dates, review, subscription. Should you apply or not? | Stock Market News

### FAQs

**What recent ESG ratings has JM Financial received, and what do they signify?**

JM Financial received an ESG score of '76' under the 'Leader' category from NSE Sustainability Ratings & Analytics Limited for the financial year 2025-26, based on public domain data. Separately, ESG Risk Assessments & Insights Limited assigned the company an ESG score of '69 (Strong)' for the same period, also based on public domain data. JM Financial noted that it did not engage NSE Sustainability for its rating, and both ratings were independently generated.

**What is the current technical trend for JM Financial, and what are the key support and resistance levels?**

As of September 18, 2026, JM Financial's daily trend indicators suggest a bearish direction with the SuperTrend at ₹131.63. The 20-day Exponential Moving Average (EMA) is ₹126.54, slightly above the closing price of ₹126.3. Key support levels are identified at ₹125.67 and ₹124.72, while resistance levels are noted at ₹128.8 and ₹131.1.

**What credit ratings has JM Financial received recently?**

On August 31, 2026, CRISIL Ratings Limited reaffirmed JM Financial's Long-term Bank Loan Facility and Commercial Paper ratings at CRISIL AA/Stable and CRISIL A1+ respectively. CRISIL also assigned a new CRISIL AA/Stable rating to the company's Non-Convertible Debentures.

**What is JM Financial's performance over different periods?**

JM Financial's performance shows a 3% return in the last day and a 1% return over the past month. However, it has experienced a decline of 14% year-to-date and a 28% decrease over the last year. The return since the start of trading is -3%.

**What is the status of the special window for shareholders regarding physical share transfers?**

JM Financial announced a special window for shareholders to re-lodge physical transfer deeds executed before April 1, 2019. This window remains open until February 4, 2027, allowing eligible shareholders to submit documents to Registrar KFin Technologies Limited for demat crediting of securities, as per a SEBI circular. The notice was published on August 11, 2026.

- Coforge share price: Brokerages bullish on its enterprise autonomy and AI strategy; check targets
- Elevate Campuses IPO opens Sept 23: Check price band, key details, business model, risks and more
- Hero Motors IPO: Issue subscribed over 4x so far on Day 3; GMP drops to 4%
- Newly listed Karamtara Engineering share price rally continues: Stock jumps 7.4% to record high, up 50% from IPO price
- Hero Motors IPO GMP rises 7% on Day 3; check key dates, review, subscription. Should you apply or not? | Stock Market News
- JM Financial Limited has informed the Exchange regarding Update-Acquisition/Scheme/Sale/Disposal-XBRL |SUBJECT: Update-Other Restructuring-XBRL
- JM Financial Limited has informed the Exchange about the ESG Rating provided by NSE Sustainability Ratings & Analytics Limited |SUBJECT: General Updates
- JM Financial Limited has informed the Exchange about Credit Rating |SUBJECT: Credit Rating
- JM Financial Limited has informed the Exchange about the ESG Rating provided by ESG Risk Assessments & Insights Limited |SUBJECT: General Updates
- JM Financial Limited has informed the Exchange about Copy of Newspaper Publication |SUBJECT: Copy of Newspaper Publication
## Technical analytics

- As of: 2026-09-18
- Daily trend: Weak Downtrend
- Weekly trend: Weak Downtrend
- Pivot point: ₹122.24
- Risk regime: Higher Price Risk

### Support levels
- 124.72
- 115.066875
- 114.5

### Resistance levels
- 128.79500000000002
- 131.0975
- 144.9

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | +3.09% |
| return_10 | -6.12% |
| return_1m | +0.72% |
| return_1y | -28.29% |
| return_20 | -2.21% |
| return_3m | +0.79% |
| return_5 | -0.74% |
| return_6m | -0.86% |
| return_since_start | -2.88% |
| return_ytd | -14.41% |

### 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 | -41.14% |
| annualized_volatility | +44.41% |

## Quarterly financials

- Latest complete quarter: fy27_q1

# Revenue hits five-quarter high, but profit falls as impairment swings from credit to charge

**Summary**  
JM Financial’s first quarter ended June 2026 saw revenue recover sharply from the previous quarter, reaching its highest level in the five quarters reported. Profit before tax more than doubled compared to the March quarter. However, compared to the same period last year, pre‑tax profit fell by about 23%. A large part of that decline came from a swing in impairment on financial instruments: the year‑ago quarter included a substantial credit that reduced expenses, while the current quarter recorded a small charge. Excluding that swing, underlying profitability actually improved.

## Revenue recovery driven by non‑interest income
Total income for the quarter was ₹1,224.66 crore, up 26.36% from the previous quarter and 9.22% from the year‑ago quarter. Revenue from operations followed a similar path, rising 26.49% quarter‑on‑quarter to ₹1,200.53 crore.

Interest earned fell 13.66% year‑on‑year to ₹422.53 crore, though it improved 7.45% from the March quarter. The decline in interest income means the overall revenue growth came from non‑interest sources. In the current quarter, fees and commission income contributed ₹199.83 crore and net gains on fair value changes added ₹381.36 crore, highlighting the importance of these activities to the top line.

## Expense increase largely due to impairment swing
Total expenses rose 45.48% year‑on‑year to ₹769.12 crore. However, this increase was driven mainly by a sharp movement in impairment on financial instruments.

In the year‑ago quarter, the company recorded an impairment credit of ₹204.45 crore, which reduced total expenses. In the current quarter, it recorded an impairment charge of ₹13.57 crore, which increased expenses. The ₹218 crore swing between these two figures accounts for most of the reported expense growth.

Excluding impairment, expenses were ₹755.55 crore, compared with ₹733.12 crore a year earlier – an increase of about 3%. Finance costs were stable at ₹246.56 crore (down 1.72% year‑on‑year), while other expenses rose 25.52% to ₹95.37 crore. Employee benefit expense was ₹296.46 crore in the quarter.

## Profitability: sequential rebound, but year‑on‑year decline
Profit before tax (PBT) was ₹455.54 crore, up 87.39% from the March quarter’s low of ₹243.10 crore. Compared with the year‑ago quarter, however, PBT fell 23.12% from ₹592.56 crore.

The year‑on‑year decline was largely the result of the impairment swing. If the impairment effects are removed, adjusted PBT would have been ₹469.11 crore this quarter, compared with ₹388.11 crore a year ago – an improvement of about 21%. This indicates that underlying operating performance strengthened, even though reported profit fell.

Net profit for the period was ₹368.57 crore, up 127.62% sequentially but down 19.66% year‑on‑year. Basic earnings per share was ₹3.05, reflecting the same pattern.

## Lower tax expense supports net profit
Tax expense for the quarter was ₹86.80 crore, down 35.69% from the year‑ago quarter. The effective tax rate was approximately 19.1%, compared with 22.8% a year earlier.

The lower rate was driven by a movement in deferred tax. This quarter included a deferred tax credit of ₹32.35 crore, whereas the year‑ago quarter had a deferred tax charge of ₹52.59 crore. At the same time, current tax rose 44.62% year‑on‑year to ₹119.15 crore. The net effect was a smaller total tax bill relative to pre‑tax profit.

## Key Takeaway
The quarter showed a strong revenue rebound and a sharp sequential recovery in profit. However, reported profit fell year‑on‑year mainly because of a large swing in impairment – from a significant credit last year to a small charge this year. Excluding that swing, underlying profitability actually improved. Investors should be aware that impairment movements can cause material volatility in reported earnings from one period to the next.

### Ratios

## Official filings

- 2026-09-11 — Generic Announcement: JM Financial Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_2447_WebXMLFile_20260911_160534617.xml)
- 2026-09-03 — Generic Announcement: JM Financial Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/JMFINANCIL_03092026143054_StockExchangeIntimationESGRatingsFinalsigned.pdf)
- 2026-08-31 — Credit Rating Update: JM Financial Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/JMFINANCIL_31082026205223_StockExchangeIntimationCreditRatingsigned.pdf)
- 2026-08-20 — Generic Announcement: JM Financial Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/JMFINANCIL_20082026194412_StockExchangeIntimationESGRatingsupload.pdf)
- 2026-08-11 — Generic Announcement: JM Financial Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/JMFINANCIL_11082026173846_AdvertisementspecialwindowforrelodgementphysicalsharesSIGNED.pdf)
- 2026-08-10 — Press Release: JM Financial Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/JMFINANCIL_10082026151052_JMFLTranscriptofcallQ12027upload.pdf)
- 2026-08-10 — Generic Announcement: JM Financial Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_2447_WebXMLFile_20260810_151333980.xml)
- 2026-08-04 — Generic Announcement: JM Financial Limited conducted an earnings conference call on August 4, 2026, to discuss its financial performance for the first quarter ended June 30, 2026. An audio recording of this call has been uploaded to the company's website. — [Official attachment](https://nsearchives.nseindia.com/corporate/JMFINANCIL_04082026194810_AudiorecordingexchangeintimationQ1FY27.pdf)
- 2026-08-04 — Official Filing: JM Financial Limited has disclosed an audio recording of a call held on August 4, 2026, which concluded at 17:53:00. The recording was uploaded to the company's website on August 4, 2026, at 19:06:00. Prior intimation of this earnings call was provided to the exchange on July 29, 2026.
- 2026-08-03 — Generic Announcement: JM Financial Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/JMFINANCIL_04082026013914_JMFLDeclarationofVotingresults41stAGMupload.pdf)
- 2026-08-03 — Generic Announcement: JM Financial Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/JMFINANCIL_04082026005607_JMFLAGMProceedings2026.pdf)
- 2026-08-03 — Press Release: JM Financial Limited reported its financial results for the quarter ended June 30, 2026, with consolidated net revenue of Rs. 883 crores, a 13% year-over-year increase. Pre-provision operating profit rose 21% year-over-year to Rs. 469 crores. The company highlighted strong resolutions in distressed credit assets, with gross recoveries over Rs. 2,000 crores and JM Financial Group's share of cashflows exceeding Rs. 1,200 crores. Wealth management recurring AUM increased 7% YoY to Rs. 33,394 crores, and the affordable home loans business saw disbursements increase 87% YoY to Rs. 360 crores. — [Official attachment](https://nsearchives.nseindia.com/corporate/JMFINANCIL_03082026145417_PressRelease03082026signed.pdf)
- 2026-08-03 — Earnings Presentation: JM Financial Limited has released an investor presentation on August 3, 2026, detailing its financial performance for the first quarter ended June 30, 2026. The company reported a pre-provision profit of Rs. 469 crore, a 21% increase year-over-year. The presentation highlights strong growth in its Affordable Home Loans segment with AUM up 28% and disbursements up 87% year-over-year, and resolutions of over Rs. 2,000 crore in Distressed Credit. — [Official attachment](https://nsearchives.nseindia.com/corporate/JMFINANCIL_03082026212607_InvestorPresentation03082026upload.pdf)
- 2026-08-03 — Generic Announcement: JM Financial Limited's Board of Directors approved the unaudited standalone and consolidated financial results for the first quarter ended June 30, 2026, on August 3, 2026. The company also reported the allotment of 5,89,384 equity shares to employees upon exercise of stock options, increasing its paid-up equity share capital. The statutory auditors, KKC & Associates LLP, issued unmodified limited review reports on these financial results. — [Official attachment](https://nsearchives.nseindia.com/corporate/JMFINANCIL_03082026144202_OutcomeoftheBoardMeeting03082026uploadsIGNED.pdf)
- 2026-07-29 — Generic Announcement: JM Financial Limited will hold an earnings conference call on August 4, 2026, at 5:00 p.m. IST to discuss its financial performance for the first quarter ended June 30, 2026. An invitation with dial-in numbers and registration details has been provided. — [Official attachment](https://nsearchives.nseindia.com/corporate/JMFINANCIL_29072026161135_JMFLEarningscallIntimationQ1FY27.pdf)
- 2026-07-29 — Official Filing: JM Financial Limited will hold an Earnings Conference Call on August 4, 2026, at 17:00 IST to discuss the company's financial performance for the first quarter ended June 30, 2026. The virtual meeting is open to all investors and the general public, with details available via a provided weblink and dial-in numbers. Mr. Nishit Shah is the contact person for this event.
- 2026-07-23 — Official Filing: JM Financial Limited reported the resignation of Chirag Negandhi, designated as Senior Management Personnel, effective July 23, 2026. The resignation, due to personal reasons, was formally accepted on July 22, 2026.
- 2026-07-23 — Management Change: Mr. Chirag Negandhi has ceased to be a Senior Management Person of JM Financial Limited effective July 23, 2026, due to his resignation submitted on July 22, 2026, citing personal reasons. — [Official attachment](https://nsearchives.nseindia.com/corporate/JMFINANCIL_23072026210144_IntimationCessationofChiragNegandhiupload.pdf)
- 2026-07-14 — Generic Announcement: JM Financial Limited has submitted a certificate of compliance under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018, for the quarter ended June 30, 2026. The certificate, received from Registrar and Transfer Agents KFin Technologies Limited, confirms that details of securities dematerialized/rematerialized during the period April 1, 2026, to June 30, 2026, have been furnished to the stock exchanges. KFin Technologies Limited also confirmed that security certificates were processed, mutilated, and cancelled after verification, with depositories substituted in the register of members within prescribed timelines. — [Official attachment](https://nsearchives.nseindia.com/corporate/JMFINANCIL_14072026185542_CoveringletterRegulation74ofSEBIDandPsubmitted.pdf)
- 2026-07-11 — Generic Announcement: JM Financial Limited will hold its 41st Annual General Meeting on August 3, 2026. The Annual Report and AGM Notice for the financial year 2025-26 were dispatched on July 10, 2026. Remote e-voting will commence on July 30, 2026, and conclude on August 2, 2026. The cut-off date for e-voting eligibility is July 27, 2026. — [Official attachment](https://nsearchives.nseindia.com/corporate/JMFINANCIL_11072026143719_CoveringNewspaperIntimation-Post_dispatch_of_Annual_Report2026NSE.pdf)
- 2026-07-10 — Official Filing: JM Financial Limited will hold its 41st Annual General Meeting on August 3, 2026, to approve financial statements, declare a final dividend of ₹1.75 per share, re-appoint directors including Mr. Vishal Kampani, Ms. Roshini Bakshi, Mr. Navroz Udwadia, Mr. Pradip Kanakia, and Mr. Sumit Bose, and ratify material related party transactions. These transactions involve subsidiaries JM Financial Services Limited, JM Financial Asset Reconstruction Company Limited, JM Financial Home Loans Limited, JM Financial Institutional Securities Limited, and JM Financial Credit Solutions Limited, with approved amounts ranging from ₹1.215 billion to ₹20.1 billion, valid from August 3, 2026, until the 42nd AGM in FY2027-28.
- 2026-07-10 — Generic Announcement: JM Financial Limited is submitting its Business Responsibility and Sustainability Report for the financial year 2025-26, as required by SEBI Listing Regulations. The report, available on the company's website, details the company's performance and commitments across environmental, social, and governance (ESG) factors. Key areas covered include waste management, digital transformation, responsible investment, customer experience, employee well-being, data privacy, business ethics, and regulatory compliance. The company has set short, medium, and long-term goals for sustainability and has implemented new policies in areas such as human rights and anti-bribery. — [Official attachment](https://nsearchives.nseindia.com/corporate/JMFINANCIL_10072026232101_BRSRupload.pdf)
- 2026-07-10 — Generic Announcement: JM Financial Limited has filed its Annual Report for the financial year 2025-26, including the Business Responsibility and Sustainability Report, and the Notice for its 41st Annual General Meeting. The report highlights a record consolidated Profit After Tax (PAT) of ₹1,202 crore for FY26, a 46% year-on-year increase. Key business developments include Bajaj Life Insurance acquiring a 2.1% stake in JM Financial Home Loans Limited for ₹65.5 crore, valuing the business at approximately ₹3,100 crore, and JM Financial increasing its shareholding in JM Financial Credit Solutions Limited to 100%. — [Official attachment](https://nsearchives.nseindia.com/corporate/JMFINANCIL_10072026225700_JMFLAnnualReport202526upload.pdf)
- 2026-07-10 — Generic Announcement: JM Financial Limited is dispatching letters with a web-link, path, and QR code to members whose email addresses are not registered, to access the Annual Report for the financial year 2025-26. The Forty-First (41st) Annual General Meeting is scheduled for August 3, 2026, at 4:00 p.m. IST in Mumbai. Remote e-voting will commence on July 30, 2026, and conclude on August 2, 2026. Holders of securities in physical form are required to furnish KYC documents, including Form ISR-1, ISR-2, and SH-13, by July 27, 2026, to update their details and ensure dividend payments. — [Official attachment](https://nsearchives.nseindia.com/corporate/JMFINANCIL_10072026235609_Reg361bLetter_to_Members2026upload.pdf)
- 2026-06-25 — Generic Announcement: Rane (Madras) Limited is transferring unpaid dividends and corresponding shares from FY 2018-2019 to the Investor Education and Protection Fund Authority (IEPF) by August 30, 2026, for RML and August 31, 2026, for e-RBL. JM Financial Limited is also providing a special window until February 4, 2027, for re-lodging equity share transfer requests executed before April 1, 2019. Mahindra Manulife Investment Management Private Limited declared an Income Distribution cum Capital Withdrawal (IDCW) for its Dynamic Bond Fund and Equity Savings Fund, with a record date of June 30, 2026. — [Official attachment](https://nsearchives.nseindia.com/corporate/JMFINANCIL_25062026212157_Advertisementspecialwindowforrelodgementphysicalshares25062026.pdf)

## News and market events

- 2026-09-18 — BUSINESSTODAY: **Coforge share price: Brokerages bullish on its enterprise autonomy and AI strategy; check targets** — Coforge share price, Coforge stock, Coforge share price today, Coforge target price, Coforge AI, Coforge enterprise autonomy,, Coforge Data Cosmos, Coforge brokerage rating, Coforge buy or sell, Coforge stock target, Coforge AI investment, Coforge FDE, Coforge share price target, Coforge share price target 2026, Coforge brokerage target price, Coforge Nuuron AgenticOps Data Cosmos, Coforge share price outlook, Coforge latest brokerage report, Coforge stock buy sell rating — [Source](https://www.businesstoday.in/markets/stocks/story/coforge-share-price-brokerages-bullish-on-its-enterprise-autonomy-and-ai-strategy-check-targets-556408-2026-09-18)
- 2026-09-18 — BUSINESSTODAY: **Elevate Campuses IPO opens Sept 23: Check price band, key details, business model, risks and more** — Elevate Campuses IPO, Elevate Campuses IPO 2026, Elevate Campuses IPO details, Elevate Campuses IPO review, Elevate Campuses IPO subscription, Elevate Campuses IPO GMP, Elevate Campuses IPO latest news, Elevate Campuses IPO issue size, Elevate Campuses IPO allotment, Elevate Campuses IPO listing date, Elevate Campuses IPO financials, Elevate Campuses IPO risks, Elevate Campuses IPO key details, Elevate Campuses IPO should you subscribe, Elevate Campuses IPO key positives and risks, Elevate Campuses IPO business model explained — [Source](https://www.businesstoday.in/markets/ipo-corner/story/elevate-campuses-ipo-opens-sept-23-check-price-band-key-details-business-model-risks-and-more-556369-2026-09-18)
- 2026-09-18 — MONEYCONTROL: **Hero Motors IPO: Issue subscribed over 4x so far on Day 3; GMP drops to 4%** — Hero Motors IPO, Hero Motors IPO subscription, Hero Motors IPO GMP, Hero Motors IPO GMP today, Hero Motors IPO September 16, Hero Motors IPO price band, Hero Motors IPO allotment, Hero Motors IPO listing date, Hero Motors IPO shares, Hero Motors IPO grey market premium, Hero Motors IPO latest news, Hero Motors IPO subscription status, Hero Motors IPO NSE, Hero Motors IPO BSE, Hero Motors IPO anchor investors, Hero Motors IPO Rs 1000 crore, Hero Motors IPO fresh issue, Hero Motors IPO offer for sale, Hero Motors shares, Hero Motors IPO review, Hero Motors IPO investment, Hero Motors IPO news, Hero Motors IPO 2026, Hero Motors GMP today, Hero Motors subscription status today — [Source](https://www.moneycontrol.com/news/business/ipo/hero-motors-ipo-issue-subscribed-over-4x-so-far-on-day-3-gmp-drops-to-4-14032769.html)
- 2026-09-18 — Mint: **Newly listed Karamtara Engineering share price rally continues: Stock jumps 7.4% to record high, up 50% from IPO price** — Karamtara Engineering saw a strong debut and continued to rise, hitting a record high of  ₹378.20 after an IPO that was 62.63 times subscribed. With strong investor interest and financial performance, the stock has gained nearly 50% above its issue price. — [Source](https://www.livemint.com/market/stock-market-news/newly-listed-karamtara-engineering-share-price-rally-continues-stock-jumps-7-4-to-record-high-up-50-from-ipo-price-11789706233545.html)
- 2026-09-18 — Mint: **Hero Motors IPO GMP rises 7% on Day 3; check key dates, review, subscription. Should you apply or not? | Stock Market News** — Hero Motors IPO opened for subscription on 16 September at ₹79– ₹84 per share and closed on 18 September. The allotment basis is expected on 21 September, with shares listed on 23 September. The IPO consists of a fresh issue worth ₹600 crore and an Offer for Sale of ₹400 crore. — [Source](https://www.livemint.com/market/hero-motors-ipo-gmp-rises-7-on-day-3-check-key-dates-review-subscription-should-you-apply-or-not-11789702052357.html)
- 2026-09-18 — MONEYCONTROL: **Student accommodation operator Elevate Campuses sets IPO price band at Rs 343-362, seeks Rs 6,100-crore valuation** — Elevate Campuses IPO news,Elevate Campuses IPO price band,Elevate Campuses IPO details,Elevate Campuses IPO opening date,Elevate Campuses IPO listing date,Elevate Campuses IPO size — [Source](https://www.moneycontrol.com/news/business/ipo/student-accommodation-operator-elevate-campuses-sets-ipo-price-band-at-rs-343-362-seeks-rs-6-100-crore-valuation-14032632.html)
- 2026-09-18 — CNBC-TV18: **Hillhouse-backed Elevate Campuses sets IPO price band; issue opens September 23** — At the upper end of the price band, Elevate Campuses aims to raise ₹2,100 crore through the public issue, which comprises entirely of a fresh issue of shares, with no offer-for-sale (OFS) component. Hillhouse Investment, Singapore, is the promoter of Elevate Campuses through two entities — Genius Bidco Holdings and Genius Rajkot Investment Holdings Pte. Ltd. — [Source](https://www.cnbctv18.com/market/elevate-campuses-ipo-hillhouse-backed-firm-sets-price-band-subscription-opens-september-23-19993235.htm)
- 2026-09-17 — MONEYCONTROL: **Hillhouse Capital-backed Elevate Campuses to open Rs 2,100-crore IPO on September 23** — Elevate Campuses IPO news,Elevate Campuses IPO date,Elevate Campuses IPO opening date,Elevate Campuses IPO size,Elevate Campuses IPO price band,Elevate Campuses IPO allotment date,Elevate Campuses IPO listing date,Elevate Campuses IPO details — [Source](https://www.moneycontrol.com/news/business/ipo/hillhouse-capital-backed-elevate-campuses-to-open-rs-2-100-crore-ipo-on-september-23-14032319.html)
- 2026-09-17 — Economic Times: **Kuku Technologies gets Sebi approval for proposed IPO - The Economic Times** — Kuku will now file an updated prospectus with Sebi in the next three weeks and is eyeing a listing by the first half of 2027, a person familiar with the matter said. — [Source](https://economictimes.indiatimes.com/tech/technology/kuku-technologies-gets-sebi-approval-for-proposed-ipo/articleshow/134314577.cms)
- 2026-09-17 — The Hindu: **Broker’s call: GMR Airports (Buy)** — JM Financial — [Source](https://www.thehindubusinessline.com/markets/brokers-call-gmr-airports-buy/article71477039.ece)
- 2026-09-17 — The Hindu: **Varmora Granito sets ₹148 cap for IPO opening September 22** — The IPO includes a fresh issue of equity shares worth up to ₹3,200 million and a sale of up to 26,217,634 shares by existing investor Katsura Investments — [Source](https://www.thehindubusinessline.com/markets/varmora-granito-sets-148-cap-for-ipo-opening-september-22/article71476948.ece)
- 2026-09-17 — FREEPRESSJOURNAL.IN: **Tiles & Bathware Maker Varmora Granito To Launch ₹708-Crore IPO On September 22; Price Band Fixed At ₹140-148** — Tiles and bathware maker Varmora Granito will launch its Rs 708-crore IPO from September 22-24 at a price band of Rs 140-148 per share. The issue includes a Rs 320-crore fresh issue and Rs 388-crore OFS. Proceeds will help repay borrowings, while shares are proposed to list on BSE and NSE on September 29. — [Source](https://www.freepressjournal.in/business/tiles-bathware-maker-varmora-granito-to-launch-708-crore-ipo-on-september-22-price-band-fixed-at-140-148)
- 2026-09-17 — BUSINESSTODAY: **Varmora Granito IPO opens on Sept 22; Check price band, issue size & other key details** — Varmora Granito IPO opens on Sept 22; Check price band, issue size & other key details — [Source](https://www.businesstoday.in/markets/ipo-corner/story/varmora-granito-ipo-opens-on-sept-22-check-price-band-issue-size-other-key-details-556086-2026-09-17)
- 2026-09-17 — MONEYCONTROL: **Hero Motors IPO: Issue subscribed over 2x on Day 2 so far; GMP at 16%** — Hero Motors IPO, Hero Motors IPO subscription, Hero Motors IPO GMP, Hero Motors IPO GMP today, Hero Motors IPO September 16, Hero Motors IPO price band, Hero Motors IPO allotment, Hero Motors IPO listing date, Hero Motors IPO shares, Hero Motors IPO grey market premium, Hero Motors IPO latest news, Hero Motors IPO subscription status, Hero Motors IPO NSE, Hero Motors IPO BSE, Hero Motors IPO anchor investors, Hero Motors IPO Rs 1000 crore, Hero Motors IPO fresh issue, Hero Motors IPO offer for sale, Hero Motors shares, Hero Motors IPO review, Hero Motors IPO investment, Hero Motors IPO news, Hero Motors IPO 2026, Hero Motors GMP today, Hero Motors subscription status today — [Source](https://www.moneycontrol.com/news/business/ipo/hero-motors-ipo-gmp-latest-subscription-status-should-you-apply-or-not-14031879.html)
- 2026-09-17 — Economic Times: **GMR Airports shares gain 2% after JM Financial retains Buy rating; sees up to 24% upside** — GMR Airports shares witnessed an uptick on Thursday after JM Financial retained its Buy rating and Rs 115 target price, citing an improved risk-reward profile despite subdued passenger traffic. The brokerage expects traffic pressure to persist through November, but sees growth improving from December as favourable base effects and resilient international traffic support recovery. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/gmr-airports-shares-gain-2-after-jm-financial-retains-buy-rating-sees-up-to-24-upside/articleshow/134302927.cms)
- 2026-09-17 — CNBC-TV18: **Indian IT margins could come under pressure in FY28 if rupee cushion fades: JM Financial** — JM Financial's Rajiv Berlia says Indian IT margins held up this year mainly because of rupee depreciation, and FY28 could see pressure return if that support fades. He expects earnings estimates to be cut to neutral in the second half of FY27 as competition rises. He still holds buy or add ratings on nine of his 15 covered stocks, led by Mphasis and Sagility. — [Source](https://www.cnbctv18.com/market/indian-it-sector-fy28-margin-risks-rupee-depreciation-jm-financial-rajiv-berlia-mphasis-infosys-coforge-sagility-hcltech-tech-mahindra-artificial-intelligence-alpha-article-19992545.htm)
- 2026-09-17 — Economic Times: **Asset Reconstruction Company shares list flat at Rs 139 on BSE, NSE** — On Thursday, shares of Asset Reconstruction Company India Ltd. debuted with little movement following a notable initial public offering valued at Rs 732.97 crore, consisting entirely of an offer for sale. Priced at Rs 139 per share, the offer attracted significant demand, seeing an impressive twenty-fold subscription. Notably, the proceeds will benefit the selling shareholders, rather than the company itself. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/asset-reconstruction-company-shares-list-flat-at-rs-139-on-bse-nse/articleshow/134301418.cms)
- 2026-09-17 — BUSINESSTODAY: **TCS, Infosys, Tech Mahindra, HCL Tech: IT shares top losers amid market rally today, here's why** — IT firms, Infosys, HCL Tech, Coforge, Tech Mahindra, Wipro stock , Wipro, Persistent Systems, Tata Elxsi, Tata Consultancy Services Ltd , Zensar Technologies, IT stocks, IT stocks fall, Nifty IT index,  BSE IT index, Indian stock market,  artificial intelligence — [Source](https://www.businesstoday.in/markets/stocks/story/tcs-infosys-tech-mahindra-hcl-tech-it-shares-top-losers-amid-market-rally-today-heres-why-556034-2026-09-17)
- 2026-09-17 — MONEYCONTROL: **Varmora Granito IPO to hit Dalal Street on September 22, price band set at Rs 140-148 per share** — Varmora Granito IPO opening date,Varmora Granito IPO date,Varmora Granito IPO size,Varmora Granito IPO price band,Varmora Granito IPO allotment date,Varmora Granito IPO listing date,Varmora Granito IPO news,Varmora Granito IPO details — [Source](https://www.moneycontrol.com/news/business/ipo/varmora-granito-ipo-to-hit-dalal-street-on-september-22-price-band-set-at-rs-140-148-per-share-14031696.html)
- 2026-09-17 — Economic Times: **Karamtara Engineering IPO listing today; GMP points to 16% potential upside** — The IPO, which opened for subscription on September 9, 2026, and closed on September 11, 2026, received an overwhelming response, with the issue subscribed 66.01 times overall. — [Source](https://economictimes.indiatimes.com/markets/ipos/fpos/karamtara-engineering-ipo-listing-today-gmp-points-to-16-potential-upside/articleshow/134299726.cms)
- 2026-09-16 — MONEYCONTROL: **Kuku Technologies IPO receives SEBI approval, allowed to file UDRHP** — Kuku Technologies IPO DRHP,Kuku Technologies IPO SEBI approval,Kuku IPO news,Kuku IPO details,Kuku Technologies IPO news — [Source](https://www.moneycontrol.com/news/business/ipo/kuku-technologies-ipo-receives-sebi-approval-allowed-to-file-udrhp-14031291.html)
- 2026-09-16 — BUSINESSTODAY: **IT stocks: JM Financial sees 4th year of subdued growth; lists Sagility, Mphasis as preferred picks** — IT firms, Infosys, HCL Tech, Coforge, Tech Mahindra, Wipro stock , Wipro, Persistent Systems, Tata Elxsi, Tata Consultancy Services Ltd , Zensar Technologies, IT stocks, IT stocks fall, Nifty IT index,  BSE IT index, Indian stock market,  artificial intelligence — [Source](https://www.businesstoday.in/markets/stocks/story/it-stocks-jm-financial-sees-4th-year-of-subdued-growth-lists-sagility-mphasis-as-preferred-picks-555920-2026-09-16)
- 2026-09-16 — Economic Times: **JM Financial sees up to 28% upside in Dr Reddy’s and Aurobindo Pharma. Should you buy?** — JM Financial retained Buy ratings on Dr Reddys Laboratories and Aurobindo Pharma, seeing up to 28% upside over the next 12 months. The brokerage expects stronger earnings growth, business diversification and new product launches to support both drugmakers. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/jm-financial-sees-up-to-28-upside-in-dr-reddys-and-aurobindo-pharma-should-you-buy/articleshow/134283456.cms)
- 2026-09-16 — MONEYCONTROL: **Paytm, Pine Labs stocks get bullish brokerage calls after UPI MDR; targets imply up to 35% upside** — paytm share price today, paytm stock update, paytm share price target, paytm stock rating, pine labs share price today, pine labs stock update, pine labs share price target, pine labs stock outlook, one mobikwik share price today, mobikwik stock update, mobikwik share price target, mobikwik stock outlook, upi mdr, upi charges — [Source](https://www.moneycontrol.com/news/business/markets/paytm-pine-labs-stocks-get-bullish-brokerage-calls-after-upi-mdr-targets-imply-up-to-35-upside-14031034.html)
- 2026-09-16 — Economic Times: **UPI MDR bonanza: Why Paytm may win bigger, but Pine Labs could gain faster** — Paytm and Pine Labs stand to benefit from the new UPI MDR framework, but the impact could differ sharply. Paytm has a larger absolute revenue opportunity, with analysts estimating FY28 UPI MDR revenue of up to Rs 1,160 crore, while Pine Labs could see a bigger impact on earnings and profitability. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/upi-mdr-bonanza-why-paytm-may-win-bigger-but-pine-labs-could-gain-faster/articleshow/134279070.cms)

## 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: 2026-09-18
- Source: Faxioms public stock analysis API

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