AgenciesShares of Mahindra & Mahindra Financial Services today rallied up to 4 per cent to hit a fresh 52-week high of Rs 217 after the NBFC announced that its August month disbursement grew 75 per cent year-on-year (YoY).
In an exchange filing, the company said on the backdrop of a positive macro environment, the business continued its momentum with the disbursement of approximately Rs 3,740 crore, delivering a 75 per cent YoY growth.
“The YTD disbursement at approximately Rs 17,150 crore registered a YoY growth of 104 per cent. This has resulted in YoY growth of ~12 per cent and sequential MoM growth of ~3 per cent in gross business assets. The collection efficiency (CE) was at 96 per cent for August 2022, against CE of 97 per cent for August 2021,” M&M Financial said in an exchange filing.
It said the company continued to enjoy a comfortable liquidity position on its balance sheet, with a liquidity chest of over 3 months.
The stock, which has rallied about 42 per cent so far this year, is a consensus buy from 27 analysts. Trendlyne data shows that only five analysts have sell rating on the stock.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
In an exchange filing, the company said on the backdrop of a positive macro environment, the business continued its momentum with the disbursement of approximately Rs 3,740 crore, delivering a 75 per cent YoY growth.
“The YTD disbursement at approximately Rs 17,150 crore registered a YoY growth of 104 per cent. This has resulted in YoY growth of ~12 per cent and sequential MoM growth of ~3 per cent in gross business assets. The collection efficiency (CE) was at 96 per cent for August 2022, against CE of 97 per cent for August 2021,” M&M Financial said in an exchange filing.
It said the company continued to enjoy a comfortable liquidity position on its balance sheet, with a liquidity chest of over 3 months.
The stock, which has rallied about 42 per cent so far this year, is a consensus buy from 27 analysts. Trendlyne data shows that only five analysts have sell rating on the stock.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Experience Your Economic Times Newspaper, The Digital Way!
Read More News on
(What's moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)
...moreDownload The Economic Times News App to get Daily Market Updates & Live Business News.
Pick the best stocks for yourself
Powered by