Magma Fincorp is currently trading at Rs. 102.75, up by 3.75 points or 3.79% from its previous closing of Rs. 99.00 on the BSE.
The scrip opened at Rs. 99.05 and has touched a high and low of Rs. 104.00 and Rs. 99.00 respectively. So far 32082 shares were traded on the counter.
The BSE group 'B ' stock of face value Rs. 2 has touched a 52 week high of Rs. 117.45 on 06-Jun-2014 and a 52 week low of Rs. 62.00 on 26-Sep-2013.
Last one week high and low of the scrip stood at Rs. 104.00 and Rs. 95.00 respectively. The current market cap of the company is Rs. 1950.89 crore.
The promoters holding in the company stood at 33.63% while Institutions and Non-Institutions held 56.60% and 9.77% respectively.
Magma Fincorp is aiming to achieve 25% growth in Punjab for FY15. In this regard, the non-banking finance company will focus on lending to small and medium enterprises, for tractors, mortgage business and used-vehicle loans. The company had disbursed Rs 350 crore in Punjab in FY14.
The Kolkata-based company posted 33% growth in disbursements to Rs 2,398 crore in Q1 FY15, compared to Rs 1,805 crore during the corresponding period last year.
Magma Fincorp is a non-deposit taking non-banking finance company (NBFC), registered with the Reserve Bank of India (RBI) as an asset finance company. The company, having started operations over two decades back, is listed on the Bombay Stock Exchange and the National Stock Exchange in India.
