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JANA SMALL FIN BANK LTD Share Price Update

As of the latest trading session, JANA SMALL FIN BANK LTD is trading at ₹486.15, up by ₹24.19 or 5.23% from its previous close. The stock has moved between ₹453.05 and ₹489.40 today. Over the past year, the stock has delivered a return of -8.46%. In the last month, it has returned 20.22%.

JANA SMALL FIN BANK LTD performance

Today’s low Today’s high
₹ 453.05 ₹ 489.40
₹ 486.15
52 week low 52 week high
₹ 330.00 ₹ 552.50
₹ 486.15
Open Price ₹ 464.00
Prev. Close ₹ 461.95
Volume (Shares) 1042823.00
Total traded value ₹ 5069.68
Upper Circuit ₹ 554.30
Lower Circuit ₹ 369.60
info

Investment Returns

Over 1 Month 20.22% Over 3 Months 16.68% Over 6 Months 3.50% Over 1 Year -8.46%
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JANA SMALL FIN BANK LTD fundamentals


  • Market cap (Cr) 5,120.40
  • P/E Ratio (TTM) 14.87
  • Beta 0.69
  • Book Value / share 420.94
  • Return on equity 7.07%
  • EPS (TTM) 30.99
  • Dividend yield 0.00%
  • Net profit/quarter (Cr) 139.82
info icon alternate text
  • Market cap (Cr) 5,090.30
  • P/E Ratio (TTM) 14.87
  • Beta 0.64
  • Book Value / share 420.94
  • Return on equity 7.07%
  • EPS (TTM) 30.99
  • Dividend yield 0.00%
  • Net profit/quarter (Cr) 139.82
info icon alternate text

JANA SMALL FIN BANK LTD Financials

  • Key Results
  • Key Ratios
  • Balance sheet
  • Cash Flow
  • Competition
info-icon
Revenue
Net income
Particulars MAR 2026 (Values in Cr)
Revenue 1444.59
Operating Expense 666.47
Net Profit 139.82
Net Profit Margin (%) 9.67
Earnings Per Share (EPS) 13.28
EBITDA 848.82
Effective Tax Rate (%) 0.00
Particulars DEC 2025 (Values in Cr)
Revenue 1373.53
Operating Expense 632.97
Net Profit 9.69
Net Profit Margin (%) 0.70
Earnings Per Share (EPS) 0.92
EBITDA 719.05
Effective Tax Rate (%) 0.00
Particulars SEP 2025 (Values in Cr)
Revenue 1304.78
Operating Expense 586.97
Net Profit 74.99
Net Profit Margin (%) 5.74
Earnings Per Share (EPS) 7.13
EBITDA 761.30
Effective Tax Rate (%) 0.00
Particulars JUN 2025 (Values in Cr)
Revenue 1252.05
Operating Expense 562.95
Net Profit 101.93
Net Profit Margin (%) 8.14
Earnings Per Share (EPS) 9.69
EBITDA 756.99
Effective Tax Rate (%) 0.00
Particulars MAR 2025 (Values in Cr)
Revenue 1183.85
Operating Expense 537.93
Net Profit 123.48
Net Profit Margin (%) 10.43
Earnings Per Share (EPS) 11.76
EBITDA 722.22
Effective Tax Rate (%) -3.03
Particulars MAR 2026 (Values in Cr)
Revenue 5352.87
Operating Expense 2449.36
Net Profit 326.43
Net Profit Margin (%) 6.09
Earnings Per Share (EPS) 31.02
EBITDA 3086.16
Effective Tax Rate (%) 0.00
Particulars MAR 2025 (Values in Cr)
Revenue 4671.31
Operating Expense 1942.63
Net Profit 501.42
Net Profit Margin (%) 10.73
Earnings Per Share (EPS) 47.89
EBITDA 2790.33
Effective Tax Rate (%) -5.85
Particulars MAR 2024 (Values in Cr)
Revenue 4013.81
Operating Expense 1604.84
Net Profit 669.54
Net Profit Margin (%) 16.68
Earnings Per Share (EPS) 90.85
EBITDA 2400.25
Effective Tax Rate (%) -30.17
Particulars MAR 2023 (Values in Cr)
Revenue 3075.01
Operating Expense 1284.51
Net Profit 255.97
Net Profit Margin (%) 8.32
Earnings Per Share (EPS) 47.47
EBITDA 1670.96
Effective Tax Rate (%) 0.00
Particulars MAR 2022 (Values in Cr)
Revenue 2726.54
Operating Expense 1138.82
Net Profit 5.41
Net Profit Margin (%) 0.19
Earnings Per Share (EPS) 1.06
EBITDA 1342.16
Effective Tax Rate (%) 0.00
Particulars MAR 2025 (Values in Cr)
Book Value / Share 392.01
ROE % 7.07
ROCE % 0.00
Total Debt to Total Equity 0.00
EBITDA Margin 0.00
Particulars MAR 2024 (Values in Cr)
Book Value / Share 342.01
ROE % 10.77
ROCE % 0.00
Total Debt to Total Equity 0.00
EBITDA Margin 0.00
Particulars MAR 2023 (Values in Cr)
Book Value / Share 274.12
ROE % 4.84
ROCE % 0.00
Total Debt to Total Equity 0.00
EBITDA Margin 0.00
Particulars MAR 2022 (Values in Cr)
Book Value / Share 204.37
ROE % 0.11
ROCE % 0.00
Total Debt to Total Equity 0.00
EBITDA Margin 0.00
Particulars MAR 2021 (Values in Cr)
Book Value / Share 192.57
ROE % 1.67
ROCE % 0.00
Total Debt to Total Equity 0.00
EBITDA Margin 0.00
Particulars MAR 2025 (Values in Cr)
Cash & Short Term Investments 4459.32
Total Assets 38463.61
Total Liabilities 38463.61
Total Equity 4118.34
Share Outstanding 10
Price to Book Ratio 1.04
Return on Assets (%) 1.30
Return on Capital (%) 1.35
Particulars MAR 2024 (Values in Cr)
Cash & Short Term Investments 2052.68
Total Assets 32709.78
Total Liabilities 32709.78
Total Equity 3577.09
Share Outstanding 10
Price to Book Ratio 1.20
Return on Assets (%) 2.04
Return on Capital (%) 2.14
Particulars MAR 2023 (Values in Cr)
Cash & Short Term Investments 2087.30
Total Assets 25643.68
Total Liabilities 25643.68
Total Equity 1797.25
Share Outstanding 5
Price to Book Ratio 0.00
Return on Assets (%) 0.99
Return on Capital (%) 1.05
Particulars MAR 2022 (Values in Cr)
Cash & Short Term Investments 1537.09
Total Assets 20188.71
Total Liabilities 20188.71
Total Equity 1200.69
Share Outstanding 5
Price to Book Ratio 0.00
Return on Assets (%) 0.02
Return on Capital (%) 0.03
Particulars MAR 2021 (Values in Cr)
Cash & Short Term Investments 2259.77
Total Assets 19090.90
Total Liabilities 19090.90
Total Equity 1126.87
Share Outstanding 5
Price to Book Ratio 0.00
Return on Assets (%) 0.44
Return on Capital (%) 0.46
Particulars MAR 2025 (Values in Cr)
Net Income 473.67
Cash from Operations 4090.50
Cash from Investing -321.02
Cash from Financing -1331.44
Net change in Cash 2420.78
Free Cash Flow 4163.85
Particulars MAR 2024 (Values in Cr)
Net Income 514.35
Cash from Operations 725.20
Cash from Investing -780.08
Cash from Financing 33.47
Net change in Cash -38.79
Free Cash Flow 802.11
Particulars MAR 2023 (Values in Cr)
Net Income 255.97
Cash from Operations -1127.82
Cash from Investing -434.46
Cash from Financing 2103.61
Net change in Cash 531.96
Free Cash Flow -1101.77
Particulars MAR 2022 (Values in Cr)
Net Income 5.40
Cash from Operations 855.84
Cash from Investing -1330.36
Cash from Financing -239.51
Net change in Cash -711.27
Free Cash Flow 896.68
Particulars MAR 2021 (Values in Cr)
Net Income 84.30
Cash from Operations 619.38
Cash from Investing -1265.72
Cash from Financing 1916.64
Net change in Cash 1266.15
Free Cash Flow 662.10
Company Name Price P/E P/B Market Cap 52 Week Low 52 Week High
STATE BANK OF INDIA 974.70 11.10 1.58 899708.30 779.40 1234.80
KOTAK MAHINDRA BANK LTD 376.10 19.67 2.06 374086.55 345.40 452.98
FEDERAL BANK LTD. 284.60 16.14 1.82 70164.46 185.60 301.75
HDFC BANK LTD 751.05 15.21 1.98 1156281.72 726.75 1020.35
ICICI BANK LTD. 1240.15 16.40 2.49 889013.16 1187.55 1494.10
Company Name Price P/E P/B Market Cap 52 Week Low 52 Week High
STATE BANK OF INDIA 974.70 11.75 1.73 899708.30 779.40 1234.80
KOTAK MAHINDRA BANK LTD 376.10 26.71 2.76 374086.55 345.40 452.98
KARUR VYSYA BANK LTD. 283.70 10.92 1.94 27419.82 175.12 343.55
FEDERAL BANK LTD. 284.60 17.04 1.88 70164.46 185.60 301.75

JANA SMALL FIN BANK LTD shareholding pattern

Holding
57.57%
21.84%
4.31%
16.26%
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News

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JANA SMALL FIN BANK LTD Technicals Summary

  • EMA & SMA
  • Resistance and Support
  • Delivery and Volume
  • Beta
  • Price Change Analysis
486.15 5.23 redarrow
red-green-graph indicator
0 Bearish
16 Bullish
  • 5 Days 459.10
  • 26 Days 434.50
  • 10 Days 456.20
  • 50 Days 416.00
  • 12 Days 453.80
  • 100 Days 411.50
  • 20 Days 442.40
  • 200 Days 427.80
469.73 PIVOT
First Support 447.47 First Resistance 484.22 Second Support 432.98 Second Resistance 506.48 Third Support 410.72 Third Resistance 520.97
RSI 59.75 ADX 35.99 MACD 19.27 Williams % R -52.95 Commodity Channel Index (CCI) 64.22
Date 2026-05-12 Week 430332.00 Same Day 862889.00 Month 386822.00
1 Year 0.70 3 Year 1.16
Over 1 Month
20.22% down
Over 1 Year
-8.46% down
Over 3 Months
16.68% down
Over 3 Years
7.85% down
Over 6 Months
3.50% down
Over 5 Years
0.00% down

JANA SMALL FIN BANK LTD Corporate Actions

Top Gainers

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Top Losers

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JANA SMALL FIN BANK LTD Share Price

Jana Small Finance Bank Limited was initially incorporated as Janalakshmi Financial Services Private Limited' on July 24, 2006 by the RoC at Bengaluru, Karnataka as a Private Company. Subsequently, the Bank converted to a Public Company effective from August 10, 2015, and name of the Bank was changed to Janalakshmi Financial Services Limited', on September 18, 2015. Thereafter, it received final approval, dated April 28, 2017 from the RBI, to establish and carry on business as an SFB. Pursuant to resolutions passed by Board and Shareholders on May 30, 2017 and January 12, 2018 respectively, name of the Bank was changed from Janalakshmi Financial Services Limited' to Jana Small Finance Bank Limited', and a fresh Certificate of Incorporation dated January 29, 2018 was issued by the RoC consequent upon the change in name.

Jana Small Finance Bank is a small finance bank with its registered and corporate office in Bengaluru, Karnataka, India. The Bank's primary products are deposits (demand deposits, savings deposits and term deposits) and advances. It offer secured loans, including micro loans against property, loans to micro, small and medium enterprises, affordable housing loans, term loans to non-banking finance companies, loans against fixed deposits, two-wheeler loans and gold loans, and unsecured loans, including individual and micro business loans, agricultural and allied loans, and loans offered to groups of women as per the joint liability group model

The Bank has implemented technology solutions to execute cashless disbursement of loans. Their collections mechanism has also been digitized through the use of mobile applications. Apart from standard digital payment services, including NEFT, RTGS, IMPS, e-NACH/ NACH, it provide a UPI QR code-based EMI payment service.

The primary unsecured loan products are group loans as per the joint liability group (JLG) model), agricultural and allied loans, and individual and micro business loans. Its primary secured loan products are affordable housing loans, MSME loans, gold loans, loans against fixed deposits, term loans to NBFCs, two-wheeler loans, and micro housing loans.

In March 2008, the Bank was registered as an NBFC to commence the business of non-banking financial institution without accepting public deposits, which subsequently converted into a non-banking finance company-microfinance institution (NBFC-MFI) in September, 2013. The Bank later on received a final approval from the RBI to establish and carry on business as an SFB effective from April 28, 2017. It started operating as a Small Finance Bank (SFB) effective from March 28, 2018 and its name was included in the second schedule to the RBI Act on July 16, 2019 issued by the RBI.

The Bank introduced several new products and services since April 1, 2017, such as gold loans in year, 2018, launched affordable housing loans and loans against fixed deposits and distribution of insurance products as a corporate agent in 2019, term loans to NBFC and two-wheeler loan business in November, 2020. In April 2020, it launched 'DIGIGEN', an integrated, paperless and digital account opening and KYC process. It launched Two-Wheeler Loan in 2020.

The Bank crossed a network of 754 branches of which 272 are Unbanked Rural Centers and 61 ATMs as of March 31, 2023.

In February 2024, the Bank came up with an Initial Public Offering of 13,768,049 Equity Shares by raising funds from public aggregating to Rs 570 Crore, comprising a Fresh Issue of 11,159,420 Equity Shares aggregating to Rs 462 Crore and an Offer for Sale of 2,608,629 Equity Shares aggregating to Rs 108 Crore.

The Bank established its first branch in Guntur, Andhra Pradesh in FY25. The net Interest Income grew from Rs 2,127.9 crores in FY24 to Rs 2,393.1 crores in FY25 an increase of 12.5%. The Profit Before Tax (PBT) was Rs 473.7 crores in FY 25 as compared to Rs 514.4 crores for FY24. Profit after tax (PAT) stood at Rs 501 crores in FY25 as compared to Rs 670 crores in FY24. Advances Under Management witnessed an increase of 19.4% from Rs 24,746 crores in FY24 to Rs 29,545 crores for FY25. Deposits of the Bank grew by 29% during the year and stood at Rs 29,120 crores. The number of banking outlets stood at 802 in March 2025 as compared to 808 in March, 2024.

Parent organization Indian Private
NSE symbol JSFB
Founded 2006
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Board Of Directors

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Ajay Chamanlal Kanwal Managing Director & Chief Executive Officer
K S Raman Executive Director
Ramesh Ramanathan Non Executive Director
Rahul Khosla Nominee
Ramalingam Ramaseshan Part Time Chairman
Chitra Rajiv Talwar Independent Director
Lakshmi R N Company Sec. & Compli. Officer
Pammi Vijaya Kumar Independent Director
Kumbla Srinivas Nayak Independent Director
S C Khuntia Independent Director
Dinesh Chander Patwari Independent Director
Pankaj Razdan Additional Director
Malini B Mallikarjun Additional Director
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Frequently Asked Questions

What is the Current Share Price of Jana Small Finance Bank Ltd?

Answer Field

Jana Small Finance Bank Ltd share price is for NSE ₹ 486.15 & for BSE ₹ 487.50 as on May 13 2026 03:30 PM.

What is the Market Cap of Jana Small Finance Bank Ltd Share?

Answer Field

The market cap of Jana Small Finance Bank Ltd for NSE ₹ 5,120.40 & for BSE ₹ 0.00 as on May 13 2026 03:30 PM.

What is the 52 Week High and Low of Jana Small Finance Bank Ltd?

Answer Field

The 52 Week High and Low of Jana Small Finance Bank Ltd for NSE is ₹ 552.50 and ₹ 330.00 and for BSE is ₹ 552.90 and ₹ 330.30.

What is 1 year return for Jana Small Finance Bank Ltd?

Answer Field

The 1 year returns on the stock has been -8.46%.

What is the P/E Ratio of Jana Small Finance Bank Ltd Share?

Answer Field

As on May 13 2026 03:30 PM the price-to-earnings (PE) ratio for Jana Small Finance Bank Ltd share is 14.87.

What is the PB ratio of Jana Small Finance Bank Ltd Share?

Answer Field

As on May 13 2026 03:30 PM, the price-to-book (PB) ratio for Jana Small Finance Bank Ltd share is 420.94.

How to Buy Jana Small Finance Bank Ltd Share?

Answer Field

You can trade in Jana Small Finance Bank Ltd shares with Bajaj Broking by opening a demat account.

How to Buy Jana Small Finance Bank Ltd Share on Bajaj Broking App?

Answer Field

To buy Jana Small Finance Bank Ltd shares on the Bajaj Broking app, follow these steps:

• Login to the Bajaj Broking App

• Click on the Search Icon

• Search “Jana Small Finance Bank Ltd”

• Click on the BUY icon

• Place a buy order specifying the desired quantity of shares.

• Click BUY again to complete the purchase

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Bajaj Financial Securities Limited is a subsidiary of Bajaj Finance Limited and is a corporate trading and clearing member of BSE Ltd. and National Stock Exchange of India Ltd. (NSEIL), and also a Depository participant with National Securities Depository Ltd (“NSDL”) and Central Depository Services Ltd. (“CDSL”).

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SEBI Registration No.: INZ000218931 | BSE Cash/CDS/F&O (Member ID: 6706) | NSE Cash/F&O/CDS (Member ID: 90177) | MCX Member ID: 57680 | DP registration No : IN-DP-418-2019 | CDSL DP No.: 12088600 | NSDL DP No. IN304300 | AMFI Registration No.: ARN – 163403 Research Analyst SEBI Registration No. INH000010043

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Email for any investor grievances or write to us for DP related matters.

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Reg Office: Bajaj Auto Limited Complex, Mumbai –Pune Road Akurdi Pune 411035. Corporate Office: Bajaj Financial Securities Limited, 1st Floor, Mantri IT Park, Tower B, Unit No 9 & 10, Viman Nagar, Pune, Maharashtra 411014. SEBI Registration No.: INZ000218931 | BSE Cash/F&O/CDS (Member ID:6706) | NSE Cash/F&O/CDS (Member ID: 90177) | MCX Member ID: 57680 | DP registration No: IN-DP-418-2019 | CDSL DP No.: 12088600 | NSDL DP No. IN304300 | AMFI Registration No.: ARN –163403. 

Website: Bajaj Broking

RESEARCH DISCLAIMER

Broking services offered by Bajaj Financial Securities Limited | Registered Office: Bajaj Auto Limited Complex , Mumbai –Pune Road Akurdi Pune 411035 | Corporate Office: Bajaj Financial Securities Limited, 1st Floor, Mantri IT Park, Tower B, Unit No 9 & 10, Viman Nagar, Pune, Maharashtra 411014 | CIN: U67120PN2010PLC136026 | Research Analyst SEB I Registration No: INH000010043.

Details of Compliance Officer: 

Mr. Boudhayan Ghosh (For Broking/DP/Research)
Email | Contact No.: 020-4857 4486 

Investment in the securities involves risks, investor should consult his own advisors/consultant to determine the merits and risks of investment.

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Disclosures under the provisions of SEBI (Research Analysts) Regulations 2014 (Regulations) 

Bajaj Financial Securities Limited ("Bajaj Broking" or "Research Entity") is regulated by the Securities and Exchange Board of India ("SEBI") and is licensed to carry on the business of broking, depository services and related activities. There were no instances of non-compliance by Bajaj Financial Securities Limited on any matter related to the capital markets, resulting in significant and material disciplinary action during the last three years. This research report has been prepared and distributed byBajaj Financial Securities Limited in the capacity of a Research Analyst as per Regulation 22(1) of SEBI (Research Analysts) Regulations 2014 having SEBI Registration No. INH000010043. 

DISCLAIMER

This e-mail/ short message service (SMS) may contain confidential, proprietary or legally privileged information. It should not be used by anyone who is not the original intended recipient. If you have erroneously received this message, please delete it immediately and notify the sender. The recipient acknowledges thatBajaj Financial Securities Limited or its holding and/or associated companies, as the case may be, are unable to exercise control or ensure or guarantee the integrity of/over the contents of the information contained in e-mail /SMS transmissions and further acknowledges that any views expressed in this message are those of the individual sender and no binding nature of the message shall be implied or assumed unless the sender does so expressly with due authority of Bajaj Financial Securities Limited. This message is not intended as an offer or publication or solicitation for distribution for subscription of or purchase or sale of any securities or financial instrument(s) to anyone in whose jurisdiction such subscription etc. requires prior local regulatory clearance or is contrary to the local laws of the land in any manner or as an official confirmation of any transaction. Before opening any attachments, please check them for viruses and defects. 

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The data would be provided to the clients on an "as is" and "where-is" basis, without any warranty. Bajaj Financial Securities Limited or its subsidiaries and associated companies shall not be liable for any delay or any other interruption which may occur in providing the data due to any reason including network (Internet) reasons or snags in the system, breakdown of the system or any other equipment, server breakdown, maintenance shutdown, breakdown of communication services or inability of the Bajaj Financial Securities Limited or its subsidiaries and associated companies to provide the data. In no event shall the Bajaj Financial Securities Limited or its holding and associated companies be liable for any damages, including without limitation direct or indirect, special, incidental, or consequential damages, losses or expenses arising in connection with the data provided by the Bajaj Financial Securities Limited or its holding and associated companies.

ADDITIONAL DISCLAIMER FOR U.S. PERSONS

Bajaj Financial Securities Limited is not a registered broker-dealer under the U.S. Securities Exchange Act of 1934, as amended (the"1934 act") and under applicable state laws in the United States. In addition, Bajaj Financial Securities Limited is not a registered investment adviser under the U.S. Investment Advisers Act of 1940, as amended (the "Advisers Act" and together with the 1934 Act, the "Acts), and under applicable state laws in the United States. Accordingly, in the absence of specific exemption under the Acts, any brokerage and investment services provided by Bajaj Financial Securities Limited, including the products and services described herein are not available to or intended for U.S. persons. This email message does not constitute an offer or invitation to purchase or subscribe for any securities or solicitation of any investments or investment services and/or shall not be considered as an advertisement tool. "U.S. Persons" are generally defined as a natural person, residing in the United States or any entity organized or incorporated under the laws of the United States. US Citizens living abroad may also be deemed "US Persons" under certain rules.  

ADDITIONAL DISCLAIMER FOR CANADIAN PERSONS

Bajaj Financial Securities Limited is not a registered adviser or dealer under applicable Canadian securities laws nor has it obtained an exemption from the adviser and/or dealer registration requirements under such law. Accordingly, any brokerage and investment services provided by Bajaj Financial Securities Limited, including the products and services described herein are not available to or intended for Canadian persons.  

This mailer and its respective contents do not constitute an offer or invitation to purchase or subscribe for any securities or solicitation of any investments or investment services.  

DISCLAIMER FOR REPORT

DISCLOSURES UNDER THE PROVISIONS OF SEBI (RESEARCH ANALYSTS) REGULATIONS 2014 (REGULATIONS)

Bajaj Financial Securities Limited ("Bajaj Broking" or "Research Entity") is regulated by the Securities and Exchange Board of India ("SEBI") and is licensed to carry on the business of broking, depository services and related activities.  

This Report has been prepared by Bajaj Financial Securities Limited in the capacity of a Research Analyst having SEBI Registration No. INH000010043 and distributed as per SEBI (Research Analysts) Regulations 2014. This report does not constitute an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. The information contained herein is from publicly available data or other sources believed to be reliable. This report is provided for assistance only and is not intended to be and must not alone be taken as the basis for an investment decision. The user assumes the entire risk of any use made of this information. Each recipient of this report should make such investigation as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document (including the merits and risks involved), and should consult his own advisors to determine the merits and risks of such investment. The investment discussed or views expressed may not be suitable for all investors.  

This information is strictly confidential and is being furnished to you solely for your information. This information should not be reproduced or redistributed or passed on directly or indirectly in any form to any other person or published, copied, in whole or in part, for any purpose. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subject Bajaj Financial Securities Limited and associates / group companies to any registration or licensing requirements within such jurisdiction. The distribution of this report in certain jurisdictions may be restricted by law, and persons in whose possession this report comes, should observe, any such restrictions. The information given in this report is as of the date of this report and there can be no assurance that future results or events will be consistent with this information. This information is subject to change without any prior notice. Bajaj Financial Securities Limited reserves the right to make modifications and alterations to this statement as may be required from time to time. Bajaj Financial Securities Limited or any of its associates / group companies shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report. Bajaj Financial Securities Limited is committed to providing independent and transparent recommendation to its clients. Neither Bajaj Financial Securities Limited nor any of its associates, group companies, directors, employees, agents or representatives shall be liable for any damages whether direct, indirect, special or consequential including loss of revenue or lost profits that may arise from or in connection with the use of the information. Our proprietary trading and investment businesses may make investment decisions that are inconsistent with the recommendations expressed herein. Past performance is not necessarily a guide to future performance .The disclosures of interest statements incorporated in this report are provided solely to enhance the transparency and should not be treated as endorsement of the views expressed in the report. The information provided in these reports remains, unless otherwise stated, the copyright of Bajaj Financial Securities Limited. All layout, design, original artwork, concepts and other Intellectual Properties, remains the property and copyright of Bajaj Financial Securities Limited and may not be used in any form or for any purpose whatsoever by any party without the express written permission of the copyright holders.  

We offer our research services to clients as well as our prospects. Though this report is disseminated to all the customers simultaneously, not all customers may receive this report at the same time. We will not treat recipients as customers by virtue of their receiving this report.  

Bajaj Financial Securities Limited and its associates, officer, directors, and employees, research analyst (including relatives) worldwide may: (a) from time to time, have long or short positions in, and buy or sell the securities thereof, of company(ies), mentioned herein or (b) be engaged in any other transaction involving such securities and earn brokerage or other compensation or act as a market maker in the financial instruments of the subject company/company(ies) discussed herein or act as advisor or lender/borrower to such company(ies) or have other potential/material conflict of interest with respect to any recommendation and related information and opinions at the time of publication of research report or at the time of public appearance. Bajaj Financial Securities Limited may have proprietary long/short position in the above-mentioned scrip(s) and therefore should be considered as interested. The views provided herein are general in nature and do not consider risk appetite or investment objective of any particular investor; readers are requested to take independent professional advice before investing. This should not be construed as invitation or solicitation to do business with Bajaj Financial Securities Limited.  

Bajaj Financial Securities Limited or its associates may have received compensation from the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates may have managed or co-managed public offering of securities for the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates may have received compensation for investment banking or merchant banking or brokerage services from the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates may have received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates have not received any compensation or other benefits from the Subject Company or third party in connection with the research report. Research analyst or his/her relative or Bajaj Financial Securities Limited’s associates may have financial interest in the subject company. Bajaj Financial Securities Limited, its associates, research analyst and his/her relative may have other potential/material conflict of interest with respect to any recommendation and related information and opinions at the time of publication of research report or at the time of public appearance.  

Research analyst has served as an officer, director or employee of subject Company: No  

Bajaj Financial Securities Limited has financial interest in the subject companies: No  

Bajaj Financial Securities Limited’s Associates may have actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report.  

Research analyst or his/her relative has actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report: No  

Bajaj Financial Securities Limited has actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report: No  

Subject company may have been client during twelve months preceding the date of distribution of the research report.  

There were no instances of non-compliance by Bajaj Financial Securities Limited on any matter related to the capital markets, resulting in significant and material disciplinary action during the last three years. A graph of daily closing prices of the securities is also available at NSE

ANALYST CERTIFICATION

The analyst for this report certifies that all of the views expressed in this report accurately reflect his or her personal views about the subject company or companies and its or their securities, and no part of his or her compensation was, is or will be, directly or indirectly related to specific recommendations or views expressed in this report.  

RISK DISCLOSURE ON DERIVATIVES

  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to ₹ 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.

SEBI study dated January 25, 2023 on “Analysis of Profit and Loss of Individual Traders dealing in equity Futures and Options (F&O) Segment”, wherein Aggregate Level findings are based on annual Profit/Loss incurred by individual traders in equity F&O during FY 2021-22.

BROKERAGE DISCLAIMER

All leveraged intraday positions will be squared off on the same day. There is no restriction on the withdrawal of the unutilised margin amount. Brokerage will not exceed the SEBI prescribed limit. Visit : Pricing

MTF 

As subject to the provisions of SEBI Circular CIR/MRD/DP/54/2017 dated June 13, 2017, and the terms and conditions mentioned in the lights and obligations statement issued by the TM (if applicable).  

US INVESTING

International investment is not supervised by any regulatory body in India. Thus, any claim or dispute relating to such investment or enforcement of any agreement/contract /claim will not be under laws and regulations of the recognized stock exchanges and investor protection under Indian Securities Law. The account opening process will be carried out on Vested platform and Bajaj Financial Securities Limited will not have any role in it.  

IPO 

This should not be construed as soliciting investment. Investors’ discretion is required. Kindly consult your financial expert before investing. No need to issue cheques by investors while subscribing to IPO. Investments in securities markets are subject to market risks, read all the related documents carefully before investing.  

SCREENERS 

Screeners is not Exchange-approved products and any disputes related to the same will not be dealt on the Exchange platform. 

SECURITIES 

Securities quoted are exemplary and not recommendatory. 

IPV 

Account would be open after all procedure relating to IPV and client due diligence is completed. 

IMAGES 

The images used are only for representation purpose. Proper due diligence has been done for the images and the image is not of any artist. The same is captured from royalty free sites.

THIRD PARTY PRODUCT DISCLAIMER

Bajaj Financial Securities Limited is a distributor for Non-Broking Products/Services such as Mutual Funds, Mutual Funds SIP, IPO, Bonds, Insurance, PMS, Global Investing, any other third-party products/services. These are not Exchange Traded Products, and we are only acting as distributors. All disputes with respect to the distribution activity, would not have access to SCORES/ODR, Exchange investor redressal forum or Arbitration mechanism. Please refer to the detailed disclaimer for Third-Party Products.

DISCLOSURE TO CLIENTS REGARDING PAYOUT OF FUNDS

As per SEBI circular no. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/84 dated June 08, 2023, Stockbrokers are required to upstream the entire client funds lying with them to the Clearing Corporation. Based on client’s request the funds’ release request must be placed with the Clearing Corporation. Based on the internal process and cut-off timelines of the Clearing Corporation the funds will be released to the Stock Broker. In view of this new process, as specified by the regulatory and the cut-off time of Clearing Corporation/Banks processing the funds, Bajaj Financial Securities Limited cannot commit the exact time for releasing funds payout to its client. Clients are requested to note that, Bajaj Financial Securities Limited will not be responsible for any inconvenience caused to clients due to delay in release of funds payout, including fines, delayed charges, defaults, etc.