Mahindra & Mahindra Financial gains on executing Master agreement for co-lending with SBI
Mahindra & Mahindra Financial is currently trading at Rs. 293.20, up by 1.00 points or 0.34% from its previous closing of Rs. 292.20 on the BSE.
The scrip opened at Rs. 293.15 and has touched a high and low of Rs. 294.85 and Rs. 291.65 respectively. So far 14515 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 346.40 on 04-Jul-2023 and a 52 week low of Rs. 176.30 on 28-Sep-2022.
Last one week high and low of the scrip stood at Rs. 301.80 and Rs. 291.00 respectively. The current market cap of the company is Rs. 36256.63 crore.
The promoters holding in the company stood at 52.16%, while Institutions and Non-Institutions held 40.87% and 6.98% respectively.
Mahindra & Mahindra Financial Services (Mahindra Finance) has executed a Master agreement for co-lending with State Bank of India (SBI) for providing priority sector loans and periodical assignments of loan portfolios in accordance with Reserve Bank of India Guidelines on the same. The Co-lending arrangement is envisaged in a manner that risk and rewards shall be shared with mutual agreement between the two parties, subject to applicable regulatory framework.
Mahindra Finance is one of India’s leading non-banking finance companies.
