India's JM Financial slides on SEBI ban from managing new bond issues

JM Financial

11/03/2024 04:00

** Shares of JM Financial  JMSH.NS  down 7.3% at 81.50
rupees
    ** India's markets regulator SEBI banned the financial
services group from managing any new bond issues 
    ** JMSH provided funds to individual investors to invest in
public debt issues, while simultaneously assuring them of an
exit at a profit on the listing day, SEBI said
    ** Stock down ~15% since India's RBI barred JMSH's non-bank
unit on March 5 from lending against shares or debentures 


 (Reporting by Kashish Tandon in Bengaluru)
 ((kashish.tandon@thomsonreuters.com))