JM Financial

[Amit shah]

JM Financial Rises on Speculation of Warrant Sale to D.E. Shaw

2013-05-16 08:34:31.258 GMT

 

 

By Ameya Karve

     May 16 (Bloomberg) -- Shrs rise as much as 17% to 23.70

rupees; highest level since Jan. 9; extend yday’s 9.7% gain.

  * Two-day gain most since Feb. 2012

  * Stk gains most on S&P BSE500 Index on vol. >11x 3-mo. full-

    day avg

  * “We are hearing that D.E. Shaw will subscribe to warrants

    from JM Financial at ~28 rupees apiece,” Pratibhuti Viniyog

    Vice President Suniil Pachisia says on phone

  * NOTE: JM Financial yday said its board will meet today to

    consider issuing warrants to preference investors

  * JM Financial spokeswoman Manali Pilankar in an e-mail

    response declined to comment about warrant issue to D.E.

    Shaw

  * A spokeswoman at D.E. Shaw in Hyderabad referred queries to

    co’s headquarters; an e-mail sent to New York office outside

    hours went unanswered

  * NOTE: Reliance Industries in March 2011 said it will partner

    with D.E. Shaw for India venture to offer financial services