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    M&MFIN   INE774D01024

MAHINDRA & MAHINDRA FINANCIAL SERVICES LIMITED

(M&MFIN)
  Report
Delayed NSE India Stock Exchange  -  06:25 2022-11-29 am EST
214.25 INR   -0.16%
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INDIA STOCKS-Indian shares see best day in 5 weeks led by banks

10/04/2022 | 06:31am EST

BENGALURU, Oct 4 (Reuters) - Indian shares rose over 2% on Tuesday, boosted by a surge in banks, metal and information technology companies, while upbeat quarterly updates from companies lifted investor sentiment ahead of the corporate earnings season.

The NSE Nifty 50 index rose 2.3% to 17,274.30, while the S&P BSE Sensex gained 2.3% to 58,065.47. The indexes saw their sharpest one-day gain since Aug. 30.

Global stocks climbed for a second day on Tuesday, adding heft to the rally in Indian markets.

Heavyweight Nifty bank index rose 2.8%, while the metals index and IT index surged 3.1% and 2.9%, respectively.

"Our markets and economy are much more resilient than the rest of the world. It is expected that the credit growth will be much better in the second half of the year and that's the reason we are seeing good amount of buying in banks," said Saurabh Jain, assistant vice-president, research, at SMC Global Securities.

IndusInd Bank shares added 5.5% after it posted an 18% jump in net advances in the second quarter. It was the top gainer in Nifty 50 index.

Shares of Mahindra and Mahindra Financial Services surged 12% after the company reported strong loan disbursement and improved collection efficiency in September.

"Earnings will be the major driver of markets for the next few weeks, with more stock-specific moves. Banks, capital goods and consumer companies are expected to shine more," SMC's Jain said.

Foreign institutional investors (FII) turned net buyers in the beginning of the week, purchasing 5.91 billion rupees ($72.48 million) worth of domestic equities on Monday, provisional data available with the National Stock Exchange showed.

FIIs sold $1.99 billion of shares last week, as per Refinitiv Eikon data. September saw net FII equity outflows of $903.08 million, compared with $6.44 billion of inflows in August, according to Refinitiv.

India's equity and money markets will be closed for a holiday on Wednesday. (Reporting by Nallur Sethuraman and Gaurav Dogra in Bengaluru; Editing by Subhranshu Sahu, Savio D'Souza and Dhanya Ann Thoppil)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
FSN E-COMMERCE VENTURES LIMITED -1.73% 175.7 Delayed Quote.-48.95%
INDUSIND BANK LIMITED -1.50% 1180 End-of-day quote.32.94%
MAHINDRA & MAHINDRA FINANCIAL SERVICES LIMITED -0.16% 214.25 Delayed Quote.44.08%
MAHINDRA AND MAHINDRA LTD 0.51% 1257.1 Delayed Quote.49.40%
NIFTY 50 0.30% 18618.05 Delayed Quote.6.68%
NIFTY BANK -0.21% 43053.45 Delayed Quote.21.14%
SENSEX BSE30 0.28% 62681.84 Real-time Quote.7.30%
All news about MAHINDRA & MAHINDRA FINANCIAL SERVICES LIMITED
11/24Mahindra & Mahindra Financial Services Raises $28 Million from Bond Sale
MT
11/23INDIA STOCKS-Indian shares seen opening higher as Fed hints at rate slowdown
RE
11/23Mahindra Financial's Vehicle Leasing Arm Signs Pacts to Deliver 1,000 Electric Three-Wh..
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11/23Quiklyz Signs MOUs with Five Last Mile Mobility Players to Deliver 1000 Electric 3-Whee..
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11/07Nomura Adjusts Mahindra & Mahindra Financial Services' Price Target to 210 Indian Rupee..
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11/04Jefferies Adjusts Mahindra and Mahindra Financial Services' Price Target to 175 Indian ..
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11/03Mahindra & Mahindra Financial's Consolidated Profit Declines in Fiscal Q2
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11/03Transcript : Mahindra & Mahindra Financial Services Limited, Q2 2023 Earnings..
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11/03Mahindra's financial services arm surges on profit beat, asset quality "surprise"
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11/03INDIA STOCKS-Indian shares muted as IT offsets banks
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Analyst Recommendations on MAHINDRA & MAHINDRA FINANCIAL SERVICES LIMITED
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Financials
Sales 2023 63 713 M 780 M 780 M
Net income 2023 16 738 M 205 M 205 M
Net Debt 2023 663 B 8 120 M 8 120 M
P/E ratio 2023 15,6x
Yield 2023 1,78%
Capitalization 264 B 3 235 M 3 235 M
EV / Sales 2023 14,6x
EV / Sales 2024 14,5x
Nbr of Employees 19 998
Free-Float 41,3%
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Mean consensus -
Number of Analysts 0
Last Close Price 214,25
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Managers and Directors
Ramesh Ganesh Iyer Vice Chairman & Managing Director
Vivek Karve Chief Financial Officer
Anish Dilip Shah Chairman
Mohit Kapoor Head-Technology
Raul Rebello Chief Operating Officer