Poonawalla Fincorp rises on launching gold loan business
Poonawalla Fincorp is currently trading at Rs. 372.00, up by 5.70 points or 1.56% from its previous closing of Rs. 366.30 on the BSE.
The scrip opened at Rs. 375.00 and has touched a high and low of Rs. 375.00 and Rs. 369.60 respectively. So far 39175 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. 375.00 and Rs. 317.70 respectively. The current market cap of the company is Rs. 28879.89 crore.
The promoters holding in the company stood at 62.53%, while Institutions and Non-Institutions held 20.13% and 17.33% respectively.
Poonawalla Fincorp (PFL) has expanded its portfolio of secured lending products with the launch of its Gold Loan Business. This new offering provides a secure, fast, and transparent financing solution for individuals and businesses, catering to diverse financial needs such as business expansion, agriculture costs, and personal expenses. With faster approvals in less than 30 minutes, minimal documentation, and multiple repayment options, customers can unlock the value of their gold without selling it - ensuring financial flexibility while preserving long-term wealth.
The gold loan market in India represents a substantial opportunity, with projections indicating robust growth over the next several years across both urban and rural markets. Other than being a secured business, gold loan offers the strength of low credit risk and resilience during economic uncertainty. PFL is strategically positioned to capture this growing opportunity through its customer-centric approach and commitment to delivering premium services tailored to borrowers' needs.
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)
