For Quick Alerts
For Daily Alerts

M&M Financial Services Surges 10% On Healthy Q1FY21 Result; Rights Issue Approval


Shares in Mahindra & Mahindra Financial Services in early trade on July 20, 2020 surged as much as 10% to Rs. 228.65 per share on the BSE.

On July 18, the financial services firm reported 300% jump in consolidated profit year on year to Rs. 432 crore for the June ending quarter of Fy21. In the same quarter a precious year ago, profit after tax came in at Rs. 432 crore.

M&M Financial Surges 10% On Healthy Q1 Result; Rights Issue Approva

Also as another development, the company's board has approved a rights issue for a total number of equity shares and issue size of 61,77,64,960, fully paid-up equity shares of the face value of Rs 2 each, for an aggregate amount not exceeding Rs 3,089 crore.

At 9:28 am, the stock reversed all gains to trade lower by 0.05% at Rs. 207.80 per share on the BSE.

Story first published: Monday, July 20, 2020, 9:30 [IST]
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more