JRG Securities on Wednesday announced the formation and launch of JRG Fincorp Limited, a new Non-Banking Finance Company (NBFC) to fund the company’s business in securities and commodities.

Following are the major highlights of the annual Budget that Finance Minister P Chidambaram presented in the Parliament on Friday.

`JRG Fincorp` the subsidiary of JRG Securities has received the certificate of registration from Reserve Bank of India (RBI) to commence the business of non banking financial institution.

DUBAI: JRG Metals and Commodities DMCC, one of the leading trading & clearing members of Dubai Gold and Commodities Exchange (DGCX) on Monday carried out the first steel futures delivery through DGCX Steel Rebar Futures Contracts.

The gross income of the flagship company JRG Securities Ltd has gone up by 129.2% % to Rs 183.18 million from Rs 79.91 million in the previous quarter of the corresponding year.

"IBM solutions have helped us to make major headway in improving our infrastructure availability. The outstanding IBM products and services have helped us to provide continuous, reliable service to our customers." - Jomon Joy, assistant vice president-technical, JRG Securities

KOCHI:JRG Securities Ltd, a leading stock and commodity brokerage house, registered a 163.48% increase in its net profit amounting to Rs 17.34 million for the quarter ended September 30,2007 as compared to Rs 6.58 million posted during the corresponding quarter in last fiscal.

MUMBAI:Baring India on Friday gave consent to invest up to $ 35 million in JRG Securities Limited through a preferential issue and warrants for a minimum stake of 44.8% in the company. The deal is subject to approvals from the Securities and Exchanges Board of India, the Shareholders and other regulatory authorities.

MUMBAI:JRG Securities Ltd, a leading stock and commodity brokerage house, registered a 20.9% increase in its Net Profit amounting to Rs. 15.76 million for the quarter ended June 30, 2007 as compared to Rs. 13.03 million posted during the corresponding quarter in last fiscal.