Cholamandalam Financial Holdings | HDFC AMC reduced its stake in the company to 4.94 percent from 7.08 percent earlier via open market transactions.
Sharekhan has come out with its first quarter (April-June’ 21) earnings estimates for the NBFC sector. The brokerage house expects Cholamandalam Investment to report net profit at Rs. 465 crore up 8% year-on-year (up 91% quarter-on-quarter).
Net Interest Income (NII) is expected to increase by 30 percent Y-o-Y (down 2 percent Q-o-Q) to Rs. 1,222 crore, according to Sharekhan.
Pre Provision Profit (PPP) is likely to rise by 43% Y-o-Y (up 10 percent Q-o-Q) to Rs. 911 crore.
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