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Entry Price

64.00

Target

65.00

Recommend Date

12-05-2020

Return

1.56 %
BUY

Date : 12-05-2020

JM Financial is a diversified financial group engaged in various businesses providing a host of services including mortgage lending (wholesale and retail), distress asset management (ARC), investment banking, wealth management & securities (IWS) and AMC. Moderation in advances, witnessed in last several quarters, continued further with ~18% YoY decline to | 11531 crore. Mortgage book comprised | 7342 crore, | 3880 crore towards capital markets, corporate/promoter funding. In capital markets, volume stayed healthy with market share in overall ADTO at 0.85% & 2.13% share in cash ADTO. Despite decline in equity markets, AUM of AMC increased in Q4FY20 to | 6109 crore, primarily led by accretion in debt schemes, though equity AUM saw a decline of ~42% YoY to | 3285 crore.