Tag: mmfsl

Mahindra & Mahindra (M&M) Financial Services' share price touched a fresh 52-week high of Rs 243.60 apiece, after surging by around 6.5 percent on the BSE intraday during Monday’s trading session after the company announced it recorded a disbursement of approximately Rs 4,500 crore in November 2022, delivering a 75 percent year on year (YoY) growth, on the backdrop of positive macro environment. The stock of M&M Group’s financial arm breached its earlier high of Rs 235, hit on September 15, 2022. The financial company's year-to-date (YTD) disbursement stood at approximately Rs 31,050 crore, registering a YoY growth of 99 percent. Healthy disbursement trends have led to a strong gross asset book of approximately Rs 76,300 crore, growing around 3.4 percent over September 2022. . This has resulted in a growth of 17.5% versus March 2022. Read more

Shares of Mahindra & Mahindra (M&M) Financial Services tanked 14 percent to Rs 192.05 in Friday’s intra-day trade, after the Reserve Bank of India (RBI) directed the company to immediately cease any recovery or repossession activities via an outsource till further orders. In its order, the RBI also mentioned that the non-banking finance company may continue with recovery or repossession activities through its own employees. The directive comes days after external loan recovery agents of Mahindra Finance allegedly crushed a 27-year-old pregnant woman in Hazaribagh district in Jharkhand to death under a tractor. The agent was forcibly taking the vehicle away, financed by the company, for non-payment of dues, a senior police official had told PTI."This action is based on certain material supervisory concerns observed in the said NBFC, with regard to the management of its outsourcing activities," RBI said in a statement. Read more