Cholamandalam Financial Holdings | HDFC AMC reduced its stake in the company to 4.94 percent from 7.08 percent earlier via open market transactions.
Emkay Research has come out with its first quarter (April-June’ 21) earnings estimates for the NBFC sector. The brokerage house expects Chola to report net profit at Rs. 440.6 crore up 2.2% year-on-year (up 81.2% quarter-on-quarter).
Net Interest Income (NII) is expected to increase by 38 percent Y-o-Y (up 1.1 percent Q-o-Q) to Rs. 1,356.4 crore, according to Emkay Research.
Pre Provision Profit (PPP) is likely to rise by 48.5% Y-o-Y (up 14.3 percent Q-o-Q) to Rs. 946.4 crore.
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