Mahindra Finance moves higher as its arm gets nod for reinsurance broking business

Mahindra & Mahindra Financial Services Ltd. | Finance - NBFC | BFSI | BSE: 532720 | NSE: M&MFIN

29 Sep 2011 Evaluate

Mahindra Finance is currently trading at Rs. 644.00, up by 2.80 points or 0.44% from its previous closing of Rs. 641.20 on the BSE.

The scrip opened at Rs. 642.00 and has touched a high and low of Rs. 647.85 and Rs. 642.00 respectively.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 913.45 on 15-Nov-2010 and a 52 week low of Rs. 590.00 on 23-Aug-2011.

Last one week high and low of the scrip stood at Rs. 677.80 and Rs. 634.05 respectively. The current market cap of the company is Rs. 6668.66 crore.

The promoters holding in the company stood at 57.44% while Institutions and Non-Institutions held 38.03% and 4.53% respectively.

Mahindra & Mahindra Financial Services (Mahindra Finance) - 100% subsidiary of the company - Mahindra Insurance Brokers (MIBL), has received the approval from the Insurance Regulatory and Development Authority (IRDA) to enter the reinsurance broking business.

MIBL has however, been in the direct broking business since May 2004 and has now been granted the composite broking license, allowing it to also undertake reinsurance broking.

Mahindra & Mahindra Financial Services provides loans for utility vehicles, tractors, cars, commercial vehicles, construction equipment and personal loans. The company’s net profit after tax for the quarter ended June 30, 2011 has surged 37.74% at Rs 102.20 crore as compared to Rs 74.20 crore for the corresponding quarter last year. Its total income increased 40.49% at Rs 563.96 crore for the quarter under review from Rs 401.42 crore for the same quarter last year.

Mah & Mah Finl. Serv Share Price

294.10 -2.15 (-0.73%)

19-Jun-2026 16:59 View Price Chart

Peers

Company Name	CMP
Bajaj Finance	961.30
Shriram Finance	1002.45
Aditya Birla Capital	375.90
Chola Invest & Fin.	1694.70
Tata Capital	371.55
View more..

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