M&M Financial Services

M&M Finance's net interest income (NII) margin for Q2FY25 remained flat at 6.5 per cent, while gross non-performing assets rose to 3.83 per cent, from 3.56 per cent earlier

Mahindra and Mahindra Financial Services share price moved up by 3.3 per cent at Rs 331.25 per share on the BSE in Monday's intraday deals

Regarding the implications of a rate cut for NBFCs, analysts noted that asset composition is more crucial than liability composition.

The company's standalone revenue rose 11.2 per cent year-on-year (Y-o-Y) to Rs 27,132.8 crore in Q1FY25, as opposed to Rs 24,402.9 crore in Q1FY24.

Stocks to Watch on Tuesday, December 5, 2023: Reports suggest Fireside Ventures Investment Fund may divest 1.9 per cent stake in the parent company of Mamaearth via block deals for Rs 230 crore

While analysts remain positive, the two stocks fell by 1.5-4.5 per cent on Wednesday

The stock price formed bullish hammer candle stick pattern on September 6

BENGALURU (Reuters) -Indian tech-to-tractor conglomerate Mahindra & Mahindra on Wednesday said it bought a 3.53% stake in private lender RBL Bank for 4.17 billion rupees ($50.8 million).

On outlook, the management said the macro-economy tailwinds should help the sector and the company continue its growth journey

Mahindra Finance is benefitting from the healthy sectoral tailwinds and its parent Mahindra & Mahindra's strong recovery in auto volumes.

CLOSING BELL: Broader markets, meanwhile, outperformed benchmark indices as Nifty MidCap 100 and Nifty SmallCap 100 indices rose up to 0.4 per cent

On September 22, 2022, the RBI had directed company to immediately cease carrying out any recovery or repossession activity through outsourcing arrangements, till further orders.

Stocks to watch today: Bajaj Finance said that new loans booked during Q3FY23 were the highest-ever at 7.8 million

Stocks to watch today: Maruti Suzuki India recorded a 16.5 per cent YoY decline in production volume for passenger vehicles in December 2022

Mahindra & Mahindra Financial Services on Friday said its board has approved the appointment of Diwakar Gupta as an Independent Director with effect from January 1, 2023. Gupta (69), a seasoned banker, have over 48 years of experience in banking and financial services sector. The company's board on Friday "approved and recommended to the shareholders of the company, the proposal for appointment of Diwakar Gupta as an Independent Director on the board of the company, for first term of 5 consecutive years with effect from January 1, 2023," according to a regulatory filing. He was associated with State Bank of India (SBI) for 39 years. He has worked in Aditya Birla Nuvo Ltd, Asian Development Bank, Manila, and as a member of the expert committee for resolution framework for Covid-19-related stress, constituted by RBI in 2020. Currently, Gupta is the independent director on the board of companies-- CRISIL Ratings Ltd, Mahindra Holidays & Resorts India Ltd, Holiday Club Resorts Oy .

CLOSING BELL: IT, Power stocks logged significant losses, even as select financial stocks gained.

In October 2022, Mahindra Finance estimates the total disbursement of approximately Rs 5,250 crore, thus delivering 97 per cent growth over October 2021.

Experts had pointed out that in light of these directions against one entity, recovery activities of NBFC sector could get impacted as a majority of NBFCs rely on outsourced agents for loan recovery

The RBI action of barring M&M Financial from outsourcing recovery agents comes after the Harazibagh incident where a pregnant woman was mowed down to death

In a circular, the RBI said that the non-banking finance company may continue to carry out recovery or repossession activities, through its own employees.