Emerald Finance gains on partnering with Multicare Services (India)
Emerald Finance is currently trading at Rs. 101.10, up by 1.70 points or 1.71% from its previous closing of Rs. 99.40 on the BSE.
The scrip opened at Rs. 94.45 and has touched a high and low of Rs. 103.80 and Rs. 94.45 respectively. So far 59905 shares were traded on the counter.
The BSE group 'XT' stock of face value Rs. 10 has touched a 52 week high of Rs. 167.65 on 17-Jan-2025 and a 52 week low of Rs. 26.50 on 04-Jun-2024.
Last one week high and low of the scrip stood at Rs. 105.35 and Rs. 86.50 respectively. The current market cap of the company is Rs. 341.13 crore.
The promoters holding in the company stood at 60.51%, while Institutions and Non-Institutions held 9.78% and 29.71% respectively.
Emerald Finance has partnered with Multicare Services (India) to offer its Early-Wage-Access program to the employees of the company. Multicare handles all hassles of hiring, payroll processing, employee-benefits and appraisals along with other employer-employee responsibilities while offerings all the advantages of these services to the employers. Among its clients are Lupin, Merck, ipca, Tata Steel, Tata Inetrnet, HIL, Glencore, etc.
This partnership aims to provide an instant financial relief to the employees by allowing them to access part of their salaries seamlessly throughout the month. The company, in line with its vision to expand its offerings and to serve retail customers at large had been working on a salary advance solution. This product entails tying up with employers to offer short term loans as salary advance. The amount lent is then collected through salary deduction.
As a Non-Banking Financial Company (NBFC), Emerald Finance is involved in providing financial services with a paramount focus on small and medium enterprises (SMEs) in corporate and non-corporate sector.
