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