Buy JM Financial, target price Rs 115: IIFL

IIFL has buy call on JM Financial with a target price of Rs 115. The current market price of JM Financial Ltd. is Rs 106.15. Time period given by analyst is Intra Day 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 10117.92 Crore) operating in Financial Services sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 841.13 Crore, down -5.60 % from last quarter Total Income of Rs 890.99 Crore and up .07 % from last year same quarter Total Income of Rs 840.58 Crore. Company reported net profit after tax of Rs 233.34 Crore in latest quarter.


Investment Rationale
Stock has given a bullish inverse head & shoulder breakout of the daily chart

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.