Finkurve Financial Services surges on collaborating with Indian Bank
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Finkurve Financial Services is currently trading at Rs. 84.65, up by 2.67 points or 3.26% from its previous closing of Rs. 81.98 on the BSE.
The scrip opened at Rs. 85.45 and has touched a high and low of Rs. 85.45 and Rs. 80.10 respectively. So far 2313 shares were traded on the counter.
The BSE group 'X' stock of face value Rs. 1 has touched a 52 week high of Rs. 103.90 on 02-Jun-2023 and a 52 week low of Rs. 47.10 on 11-Oct-2022.
Last one week high and low of the scrip stood at Rs. 86.49 and Rs. 75.10 respectively. The current market cap of the company is Rs. 1027.55 crore.
The promoters holding in the company stood at 54.60%, while Institutions and Non-Institutions held 5.84% and 39.55% respectively.
Finkurve Financial Services has entered into a collaboration agreement with Indian Bank, under normal course of business. This collaboration establishes a significant strategic partnership aimed for offering Gold Loan for a superior customer experience using its digital lending platform.
This partnership shall bring in several advantages to the company, such as accessing the bank's lower cost of funds, leveraging their established customer base, benefiting from their regulatory framework and many more which shall boost the growth of the company's gold loan portfolio. Collaborating with Indian bank shall enhance the credibility of the company and shall also bring in brand value. Co-lending arrangements allows the NBFC's to share their lending risks with the banks due to which the NBFC's can mitigate the impact of loan defaults on its balance sheet and enhance its ability to manage credit risks and liquidity requirements effectively.
Finkurve Financial Services is engaged in the business of finance and investments. Leasing and hire purchase forms the main business activity.
