JM Financial stock rebounds 60% from its low. Will the clean-up rally sustain?
The company has shifted away from risky wholesale lending to fee-based capital markets and retail housing finance. With the clean-up largely done, it’s now eyeing a leaner, asset-light model, with a sharper focus on its core capital markets businesses.
The benefits of this shift are expected to emerge gradually from FY26. So, how is the company repositioning for this transition?
Wholesale book shrinks, retail picks up
This wholesale lending segment stems from the mortgage lending vertical, split between wholesale and retail lending. Mortgage lending contributes 29.6% to total revenue but only around 10% to profitability.
In wholesale lending, JM Financial had…
