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Mahindra & Mahindra Financial Services is currently trading at Rs. 183.15, down by 11.30 points or 5.81% from its previous closing of Rs. 194.45 on the BSE.

The scrip opened at Rs. 190.90 and has touched a high and low of Rs. 191.35 and Rs. 176.80 respectively. So far 659712 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 235.00 on 15-Sep-2022 and a 52 week low of Rs. 127.95 on 07-Mar-2022.

Last one week high and low of the scrip stood at Rs. 229.70 and Rs. 176.80 respectively. The current market cap of the company is Rs. 22406.56 crore.

The promoters holding in the company stood at 52.16%, while Institutions and Non-Institutions held 35.50% and 12.34% respectively.

The Reserve Bank of India (RBI) had directed Mahindra & Mahindra Financial Services (Mahindra Finance) to immediately cease carrying out any recovery or repossession activity through outsourcing arrangements, till further orders. However, the Company may continue to carry out recovery or repossession activities, through its own employees. This action is based on certain material supervisory concerns observed in the company, with regard to the management of its outsourcing activities.

In the normal course of its business, the company repossesses about 4000 to 5000 vehicles per month, using the third-party agencies and its own employees. The company expects this number to go down temporarily by about 3000 to 4000 per month, as the company implements the RBI order with immediate effect. The company has not outsourced any collection activities in its vehicle finance business to any third-party agencies and therefore, the company does not expect any impact on the collections in this business.

Mahindra & Mahindra Financial Services is one of India’s leading non-banking finance companies