JM Financial is currently trading at Rs. 27.05, up by 3.50 points or 14.86% from its previous closing of Rs. 23.55 on the BSE.
The scrip opened at Rs. 26.80 and has touched a high and low of Rs. 27.50 and Rs. 24.80 respectively. So far 9840089 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 27.50 on 17-May-2013 and a 52 week low of Rs. 11.50 on 04-Jun-2012.
Last one week high and low of the scrip stood at Rs. 27.50 and Rs. 18.20 respectively. The current market cap of the company is Rs. 2043.58 crore.
The promoters holding in the company stood at 69.09% while Institutions and Non-Institutions held 10.41% and 20.50% respectively.
JM Financial has received its board approval to issue of 11.65 million warrants to former Citgroup chief Vikram Pandit and Hari Aiyar at a price of Rs 19.50 per share on preferential basis.
Vikram Pandit and Hari Aiyar will pay about Rs 55 crore for the stake, besides investing about Rs 550 crore for expansion of the non-banking financial company’s (NBFC) lending business. Meanwhile, the board has also approved filing of application for a banking licence with the Reserve Bank of India (RBI). The application deadline expires on July 1, 2013.
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