26/3/2024, 1:25:07 pm

JM Financial trades 4% down, IIFL Finance sheds 5.5% as RBI initiates audit

Shares of JM Financial dropped around 4%, and those of IIFL Finance plunged 5.5% after the RBI announced a special audit for the two companies. At 12.40pm, JM Financial traded at Rs 72 on the BSE, down 3% from its previous close, while IIFL Finance fell 2.5% to Rs 325 a share. Experts anticipate the audit to take four to six weeks.