Chola Finance

Chola MS General Insurance Company Ltd has reported a 60 per cent increase in its profits before tax for the six month period ending September 30, 2024 at Rs 350 crore. The city-based company reported profits before tax of Rs 219 crore during the corresponding six months of last year. Chola MS General Insurance Company, is a joint venture between the diversified conglomerate the Murugappa Group and Japan-based Mitsui Sumitomo Insurance Company Ltd. "The rise in profits before tax for the six month period ending September 30, 2024, include Rs 22.7 crore of non-recurring income from interest on an income tax refund," Chola MS General Insurance said in a statement on Tuesday. As on September 30, 2024, the company's net worth stands at Rs 2,753 crore with 84 per cent derived from the accumulated profits. The Gross Written Premium for the quarter ending September 30, 2024 stood at Rs 2,191 crore, while for the six month period ending September 30, 2024 grew to Rs 4,136 crore. "Our ...

Listed NBFC stocks are currently facing selling pressure at higher levels, show technical charts

While it is risky to be bullish on the stock trading in the overbought category, the underlying trend must to be followed at all time.

Major Non-Banking Financial Company (NBFC) shares could offer significant gains from a short-to-medium term perspective, as their present formations on technical charts illustrate a long-term upside.

Among consumer financiers, Mahindra & Mahindra and Cholamandalam Investment look strong on charts, while Bajaj Finance and Muthoot Finance need to overcome key hurdles for an upside, indicate charts.

Company does better than rivals in categories like assets under management and loan distribution, say analysts.

Some of the critical customer (bus services) segments, such as tourism, education institutions and offices, and state transport may take time to recover

Both were quick to adapt to a changing environment

The stock has emerged as one of the preferred NBFC picks for its ability to diversify its loan book and maintain growth