JM Financial: Compared to the Nifty 50, which has increased by more than 16 percent over the same period, JM Financial shares have increased by 32 percent so far this year.
On December 15, JM Financial’s stock price increased by 10% as a result of a management transition and the distribution of equity shares that came from qualified employees exercising their stock options. Chirag Negandhi was named a senior management person (SMP) by the company on December 18.
Negandhi brings with him more than 20 years of capital markets leadership experience. In a regulatory filing, JM Financial stated that he has worked closely with several leading business houses and led some of India’s largest equity raises.
As of 1:48 pm, JM Financial stocks were up by 10% at Rs 98.10 on the National Stock Exchange (NSE). Year-to-date, JM Financial shares have shown a 32% increase, surpassing the Nifty 50 benchmark, which has yielded a return of more than 16% during the same period.
Moreover, through the Employees’ Stock Option Scheme, the Allotment Committee of the Board has assigned a total of 3.77 lakh equity shares, each with a face value of Re 1. The company stated that following the allocation of the equity shares, the company’s paid-up equity share capital is now Rs 95.55 crore, consisting of 95.55 crore equity shares with a face value of Re 1 each.
