Mahindra & Mahindra Financial Services rose 3.57% to Rs 285.40 at 10:53 IST on BSE after consolidated net profit rose 12% to Rs 411 crore on 13% growth in total income to Rs 1905 crore in Q4 March 2016 over Q4 March 2015.
The result was announced on Saturday, 23 April 2016.Meanwhile, the S&P BSE Sensex was down 148.11 points or 0.57% at 25,690.03.
On BSE, so far 3.86 lakh shares were traded in the counter as against average daily volume of 1.27 lakh shares in the past one quarter. The stock hit a high of Rs 293.65 and a low of Rs 282.25 so far during the day. The stock had hit a 52-week high of Rs 294 on 7 July 2015. The stock had hit a 52-week low of Rs 173.40 on 12 February 2016. The stock had outperformed the market over the past one month till 22 April 2016, gaining 14.38% compared with Sensex's 2% rise. The scrip had also outperformed the market in past one quarter, advancing 37.77% as against Sensex's 5.74 % rise.
The large-cap company has equity capital of Rs 113.75 crore. Face value per share is Rs 2.
Mahindra & Mahindra Financial Services' board of directors at its meeting held on Saturday, 23 April 2016, approved the increase in the borrowing limits of the company from Rs 50000 crore to Rs 55000 crore. The board approved the issue of secured/unsecured non-convertible debentures including subordinated debentures on a private placement basis, within the overall borrowing limits of the company.
Mahindra & Mahindra Financial Services, part of the Mahindra Group, is one of India's leading non-banking finance companies.
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