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Business News

JM Financial soars on turnaround story

The stock opened at Rs 41.80 and rallied 10% to a high of Rs 44. It is now trading at Rs 44 - up 8% from the previous close. Around 81,000 shares have changed hands on the counter so far. The company has informed the BSE through a press release about its Q3FY10 results. The net profit stands at Rs 36.18 crore in the quarter ended December 09 as against a net loss of Rs 230.04 crore in the corresponding quarter a year ago. Total income increased 42% to Rs 157.10 crore in Q3FY10 from Rs 110.43 crore in Q3FY09.