JM Financial Share Price Today: On the BSE, the company’s shares dropped 19.29% to Rs 77.10. However, it was down 18.75 percent, trading at Rs 77.55 on the NSE.
The Reserve Bank placed limitations the following day, and on Wednesday, JM Financial’s shares dropped more than 19%. Its market value dropped to INR 1484 crore. On Tuesday, the Reserve Bank placed several limitations on JM Financial Products Limited, a group company, following the discovery of many irregularities.
On the BSE, the company’s shares dropped 19.29% to Rs 77.10. However, it was down 18.75 percent, trading at Rs 77.55 on the NSE. The company’s market value dropped to Rs 7,643.63 crore from Rs 1,484.53 crore during this fall.
The corporation is facing sanctions from the Reserve Bank for continuously assisting a group of its clients in making IPO bids with borrowed funds.
The non-banking finance firm has been prohibited by the central bank from offering any sort of financing against shares and debentures, including approving and disbursing loans and conducting initial public offerings (IPOs) of shares. These limitations are now in force as of right now.