Latest News
-
Rs 5/Share Dividend: Record Date In Due Course; Buy The Capital Goods Stock? -
Stocks To Buy: 2 Trade Calls By Chandan Taparia of Motilal Oswal On Friday, 19 April -
New Rules Mandate Aadhaar For Small Savings Schemes -
Trade Setup: Nifty Slides Below 22,000 Mark; Global Markets Plunge On Reports Of Explosions In Iran -
JNK India IPO To Open On 23rd April: Check Price Band, Issue Size & More Details Here -
Banks Close As India Votes: Lok Sabha Elections Phase 1 -
Trade Call: 2 Technical Intraday Stock Picks By Sumeet Bagadia On Friday, April 19 -
Swing Trading Guide: 2 Buy/Sell Stock Picks By VLA Ambala On Friday, 19th April -
Stock Market Live Updates: Nifty Opens Below 21,850 Pts, Sensex Dips 530 Pts; Infosys Down 2% -
1:3 Bonus Share, Rs 13.25/Share Dividend: Buy Maharatna PSU, TP Rs 355, Fundraise Approved
Mahindra Finance: Stock Soars 11% In Trade: Asset Quality Improves To Rs. 73,900 crore
The share price of Mahindra Finance surged 11.43% in intra day trade today after the company reported disbursements of around Rs. 4,080 crore in September. This growth has translated to an on-year growth of 82% in Q2, and 106% in H1 FY23.
The company stated, "Healthy disbursement trends during the first half have led to a strong gross asset book of approximately Rs. 73,900 crore, growing 3% month-on-month. As on September 30, the company expects its Gross Stage 3 to be around 7% (compared to 8% as of June 30) and Gross Stage 2 to be around 10% (compared to 11.7% as of June 30). Disbursements and collections remained strong in September, aided by macro tailwinds. Both AUM and asset quality were better than our estimates
Mahindra Finance - NSE performance
The current market price of Mahindra Finance closed at Rs. 200.30/share on NSE, up by 11.43%, on October 4. In the last 5 days, its share price gained by 10.57%, and in 2022, its share price gained by 31.56%. It is a large-cap stock with a market capitalization of Rs. 24,760 crore.
The 52-week high level of this stock is Rs. 235.10, and the 52-week low level of this stock is Rs. 128.
The company's product portfolio consists of vehicle finance, which includes financing of passenger vehicles, utility vehicles, tractors, commercial vehicles, and construction equipment; and pre-owned vehicles and SME finance, which includes project finance, equipment finance, working capital finance and bill discounting services to SMEs. The company also undertakes mutual fund distribution, fixed deposits and personal loans tailor-made to suit its unique customer set. With over 24,000 employees, Mahindra Finance has a presence in every state in India and a footprint in 85% of its districts.
Disclaimer
Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, brokerage firm, and the author are not liable for any losses caused as a result of decisions based on the article.
