Financial Sector

As of March 31, this year, the mortgage lender manages assets of up to ₹91,370 Crore, making it an upper-layer NBFC.

HDFC AMC has selected June 18, 2024, as the record date for this dividend payout. The dividend will be paid to qualified shareholders on or before June 30, 2024.

Mahindra & Mahindra Financial Services recorded a net profit of ₹619 Crore in Q4FY24, a 9.5% decrease from the previous year's ₹684 Crore.

This investment intends to assist ABHFL's growth and financial requirements while also improving its leverage ratio.

The corporate agency license would enable Mahindra Finance enhance its product line by including insurance products.

According to sources, Sidbi Ventures has pared the entire stake in Annapurna, while others have exited partially.

Even though it has a one-year opportunity to keep the Shriram identity, the company will adopt a new brand name.

The company's cash position increased by ₹259 Crore year on year to ₹5,263 Crore, while core online sales increased by 39% to ₹2,375 Crore.

While the Reserve Bank of India's (RBI) master directions for NBFCs include criteria for lending against shares of public businesses, they remain quiet on unlisted stocks.

The proposal involves capitalizing reserves, potentially leading to an increase in the Company's Authorized Share Capital, pending requisite approvals.