JM Financial shares down 13 percent

Bangalore: JM Financial stock was among the top losers after its price went down by 13 percent. After opening the day at Rs. 43.85, the stock touched the day's low price of Rs. 37.55, before closing trade at Rs. 43.35, with a loss of 12.57 percent. Through the day, 66,52,216 shares of JM Financial were traded in the market with the P/E ratio of 62.13. The 52 week stock price chart is on the left.

JM Financial is an India-based holding company. It operates, through its subsidiaries, joint venture and associate companies, forming a financial services group, JM Financial. The company operates in four segments: investment banking and securities business, securities funding and fund-based activities, alternative asset management and asset management. In April 2010, the company acquired the remaining 50 percent interest in Infinite India Investment Management.

The company's net profit for the quarter ending June 30, 2010, dropped to Rs. 29.47 crore against Rs. 31.2 crore recorded during the quarter ended June 30, 2009. The total income increased 57 percent to Rs. 193 crore, compared to Rs. 122.7 crore during the previous year.