Cholamandalam Investment & Finance Company is currently trading at Rs. 623.00, up by 0.70 points or 0.11% from its previous closing of Rs. 622.30 on the BSE.
The scrip opened at Rs. 627.00 and has touched a high and low of Rs. 630.05 and Rs. 622.25 respectively. So far 1,221 shares were traded on the counter.
The BSE group 'B ' stock of face value Rs. 10 has touched a 52 week high of Rs. 667.15 on 23-Jun-2015 and a 52 week low of Rs. 351.00 on 31-Jul-2014.
Last one week high and low of the scrip stood at Rs. 647.30 and Rs. 613.50 respectively. The current market cap of the company is Rs. 8,955.00 crore.
The promoters holding in the company stood at 57.75%, while Institutions and Non-Institutions held 35.14% and 7.11% respectively.
Cholamandalam Investment & Finance Company, the financial services arm of the Murugappa Group, has entered into an association with Ola, India’s leading mobile app for personal transportation to offer car loans to drivers on Ola’s platform, with an option of daily repayment scheme as against the current practice of an EMI. Through Ola’s tie up with Chola, Ola Pragati enables drivers to take loan at competitive rates and repay a part of their loan on a daily basis.
Chola has customized its services to cater better to this target group. It provides an array of benefits ranging from quick loan approval and easier documentation. With this tie up, Ola will share daily revenue and payment details of drivers on real time basis.
Cholamandalam Investment is among the top 5 NBFC’s in the country operating in vehicle finance, home equity, corporate and mortgage finance segments with subsidiaries in the broking and wealth advisory space.
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