SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Magma Fincorp gains on receiving R2 license from IRDA

23 Apr 2012 Evaluate

Magma Fincorp is currently trading at Rs. 72.00, up by 0.15 points or 0.21% from its previous closing of Rs. 71.85 on the BSE.

The scrip opened at Rs. 72.00 and has touched a high and low of Rs. 72.00 and Rs. 72.00 respectively.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 87.00 on 15-Jul-2011 and a 52 week low of Rs. 48.10 on 18-Nov-2011.

Last one week high and low of the scrip stood at Rs. 72.65 and Rs. 67.20 respectively. The current market cap of the company is Rs. 1366.07 crore.

The promoters holding in the company stood at 33.70% while Institutions and Non-Institutions held 56.40% and 9.91% respectively. 

Magma Fincorp, Kolkata-based company, gets a step closer to launch its general insurance business. It has got R2 license from the Insurance Regulatory and Development Authority (IRDA).

The company has signed a joint venture agreement with Germany-based HDI-Gerling International Holding AG for its foray into general insurance business in July 2009. The joint venture company - Magma HDI General Insurance Company had received Reserve Bank of India's approval in October 2009. The company also received R1 license from the IRDA in April 2011.

Poonawalla Fincorp Share Price

414.00 6.75 (1.66%)
17-Apr-2026 16:59 View Price Chart
Peers

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×