Mahindra Finance stock price up by more than 5% today

5 Dec 2022 , 12:27 PM

Following the company’s announcement that it recorded a disbursement of roughly Rs 4,500 crore in November 2022, delivering a 75% year-over-year (YoY) growth against the backdrop of a favourable macro environment, shares of Mahindra & Mahindra Financial Services (Mahindra Finance) hit a 52-week high at Rs 243.60, rising 6.4% in intraday trade on Monday in an otherwise weak market.

On September 15, 2022, the Mahindra Group Non-Banking Finance Company (NBFC) stock reached a record high of Rs 235. While the S&P BSE Sensex fell by 0.42% at 10:53 am, the stock was trading 6% higher at Rs 242 at the time. In total, 9.3 million shares were traded on the NSE and BSE, more than double the average trading volume at the counter.

The NBFC has disbursed over Rs 31,050 crore this year (YTD), representing a YoY rise of 98%. The gross asset book is intense, expanding by about 3.4% over September 2022, with an estimated value of Rs 76,300 crore. This is the result of healthy disbursement trends. In comparison to March 2022, this has led to increasing of about 17.5%.

For feedback and suggestions, write to us at [e-mail]