Poonawalla Fincorp rises on launching commercial vehicle secured loan business
Poonawalla Fincorp is currently trading at Rs. 284.00, up by 2.85 points or 1.01% from its previous closing of Rs. 281.15 on the BSE.
The scrip opened at Rs. 281.20 and has touched a high and low of Rs. 285.55 and Rs. 281.20 respectively. So far 5030 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 513.95 on 22-Apr-2024 and a 52 week low of Rs. 267.25 on 04-Mar-2025.
Last one week high and low of the scrip stood at Rs. 294.90 and Rs. 277.75 respectively. The current market cap of the company is Rs. 22006.02 crore.
The promoters holding in the company stood at 62.36%, while Institutions and Non-Institutions held 19.03% and 18.61% respectively.
Poonawalla Fincorp (PFL) has expanded its product suite with the launch of its Commercial Vehicle (CV) secured loan business. This new offering aims to bolster the essential logistics and supply chain sectors, by enhancing transportation capabilities for CV operators. The loan covers Small, Light, and Intermediate & Heavy Commercial Vehicles from all major manufacturers, supporting both new and used vehicle purchases. Customers will also benefit from flexible, structured payment and repayment options.
As part of this launch, PFL has also introduced a technology solution aligned with its risk-first approach. The solution focuses on reducing the documentation process for customers, enabling faster turnaround time and a seamless onboarding experience. By integrating with various technology partners, the company has developed assessment framework with validation from verified sources.
With a strong focus on Bharat's tier 2 and tier 3 markets, PFL plans to initially enter 68 locations across 12 states in the first phase, with further plans to expand to 400 locations across 20 states through a hub-and- spoke model in the next phase. CV loans will be offered through direct-to-customer, dealers, and channel partners. The company has onboarded industry professionals to provide tailored financial solutions and enhance customer experiences.
Poonawalla Fincorp (Formerly known as Magma Fincorp) is a non-deposit taking systemically important non-banking finance Company (ND-SI-NBFC), registered with the Reserve Bank of India (RBI).
