Magma Fincorp is currently trading at Rs. 73.55, up by 0.15 points or 0.20% from its previous closing of Rs. 73.40 on the BSE.
The scrip opened at Rs. 74.95 and has touched a high and low of Rs. 74.95 and Rs. 73.55 respectively.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 78.90 on 16-Nov-2012 and a 52 week low of Rs. 48.60 on 19-Dec-2011.
Last one week high and low of the scrip stood at Rs. 74.95 and Rs. 73.55 respectively. The current market cap of the company is Rs. 1401.88 crore.
The promoters holding in the company stood at 33.67% while Institutions and Non-Institutions held 56.36% and 9.97% respectively.
Magma Fincorp, asset finance company is planning to increase disbursements by 40-45% this year. It is focusing on automobiles, particularly the tractor segment for sustained the growth through the year. The company will also focus on growing the higher yield products such as tractor and SME loans.
The company has drawn up plans to drive its disbursement in Tamil Nadu by another 40% in retail loans during the current financial year. The asset finance company has six branches in Tamil Nadu- Chennai, Coimbatore, Madurai, Salem, Vellore and Tiruchi - and employs over 213 people in the State.
Earlier year, entity had disbursed Rs 246 crore in Tamil Nadu. This is only 4% of the company’s turnover, compared to neighbouring Andhra Pradesh which contributed 11% last year.
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