Business Business: Last Friday, there was turmoil in the stock market and some cheap shares started skyrocketing. The share price of JM Financial Limited also rose. On Friday, the last trading day of the week, the stock rose by about 3 percent and reached more than Rs 100.
At the end of trading, the share price closed at Rs 102.89. The share price increased by 2.85% compared to the previous day. During trading, the share price reached Rs 105.30. On January 29, 2024, the share price was Rs 114.95. This is the highest level of 52 weeks. At the same time, on June 4, 2024, the share price reached a 52-week low of Rs 69.
Domestic securities firm HDFC Securities has recommended buying shares of JM Financial Limited. The target price remained unchanged at Rs 130. Meanwhile, the stop loss of the stock is Rs 93.
Recently, JM Financial Limited informed BSE that the company’s board meeting will be held. The meeting is to be held on 8 June 2024. The quarterly results of the company are expected to be approved in this meeting. Recently, market regulator SEBI registered a case against JM Financial Limited for irregularities in the public issue of non-convertible debentures (NCDs). The Securities and Exchange Board of India (SEBI) has clarified in a confirmation order that the ban on JM Financial Limited (JMFL) applies only to the public issue of debt securities and other activities including issuance of shares do not come under its purview. I have done this. JMFL is accused of having a senior manager who was involved in fraudulent activities involving individual investors and associates of the JM Group.
