Buy JM Financial, target price Rs 96: HDFC Securities

HDFC Securities has buy call on JM Financial with a target price of Rs 96. The current market price of JM Financial Ltd. is Rs 92.25.

Time period given by analyst is 2 weeks when JM Financial Ltd. price can reach defined target.

JM Financial Ltd., incorporated in the year 1986, is a Mid Cap company (having a market cap of Rs 8757.64 Crore) operating in Financial Services sector.

JM Financial Ltd. key Products/Revenue Segments include Fees & Commission Income, Income From Financial Services and Interest for the year ending 31-Mar-2021.

Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 992.55 Crore, up 18.00 % from last quarter Total Income of Rs 841.13 Crore and up 43.62 % from last year same quarter Total Income of Rs 691.11 Crore. Company reported net profit after tax of Rs 274.47 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 54.8 per cent stake in the company as of Dec 30, 2020, while FIIs held 24.2 per cent, DIIs 9.1 per cent and public and others 11.9 per cent.