 "Cholamandalam Investment hits new high; surges over 30% post Q4 results")
Cholamandalam Investment and Finance Company have moved higher to its all-time high of Rs 1,047, extending its month long rally of over 20% on the BSE, after the company reported a strong set of numbers for the quarter ended March 2016 (Q4FY16).
Since April 29, the stock outperformed the market by surging 32% as compared to 5% rise in the S&P BSE Sensex.
A Murugappa Group company had posted a strong 42% year on year (YoY) jump in its consolidated net profit at Rs 194 crore for Q4FY16, on back of 34% YoY growth in net income at Rs 603 crore over the previous year quarter.
Net interest margin (NIMs) expanded by 90 basis points to 9.4% in Q4FY16 from 8.0% in the same quarter last year.
Cholamandalam Investment said the NIM was strengthened by a healthy increase in interest income, reduction in cost of funds and substantial increase in fee & other income.
At 03:06 PM, the stock was up 5% at Rs 1,029 on the BSE. A combined 275,090 shares changed hands on the counter on the BSE and NSE so far.
Since April 29, the stock outperformed the market by surging 32% as compared to 5% rise in the S&P BSE Sensex.
A Murugappa Group company had posted a strong 42% year on year (YoY) jump in its consolidated net profit at Rs 194 crore for Q4FY16, on back of 34% YoY growth in net income at Rs 603 crore over the previous year quarter.
Net interest margin (NIMs) expanded by 90 basis points to 9.4% in Q4FY16 from 8.0% in the same quarter last year.
Cholamandalam Investment said the NIM was strengthened by a healthy increase in interest income, reduction in cost of funds and substantial increase in fee & other income.
At 03:06 PM, the stock was up 5% at Rs 1,029 on the BSE. A combined 275,090 shares changed hands on the counter on the BSE and NSE so far.