Mahindra Finance disburses around Rs 5,250 crore in Oct; shares gain 1%

Mahindra & Mahindra Financial Service shares gained one percent in trade on November 3 as the financial services company reported that its disbursements for the month of October amounted to around Rs 5,250 crore, a level similar to the previous year.

Year-to-date, the company’s disbursements came in at approximately Rs 30,700 crore, registering a growth of 16 percent year-on-year.

As of 9.30 am, shares of Mahindra Finance were trading at Rs 253.2 on the NSE, higher by 0.9 percent from the closing price of the previous session.

The collection efficiency was at 94 percent for October against 91 percent in the same month last year. Stage-3 and Stage-2 assets remained range-bound compared to September 2023.

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Mahindra Finance has a comfortable liquidity position on its balance sheet, with a liquidity chest of over 2.5 months.

Stock price movement, shareholding pattern

Over the past six months, shares of Mahindra Finance have fallen 7.29 percent. Comparatively, the frontline index Nifty 50 gained 5.77 percent in the same time period. The company has a market-capitalisation of Rs 31,005.6 crore, which is higher than its industry peers.

The counter sees high volatility, as indicated by its one-year beta of 1.16, while the mid-range RSI of 30.2 indicated that the stock is neither overbought nor oversold.

Promoters holding remained unchanged at 52.16 percent in the quarter ended September. The number of FII investors decreased from 314 in the June quarter to 272 in September, but FIIs overall holdings increased to 14.1 percent from 13.92 percent. DIIs held 25.8 percent while the public had a holding of 7.8 percent.

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