Poonawalla Fincorp zooms on signing MoU with TIH at IIT Bombay
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Poonawalla Fincorp is currently trading at Rs. 370.00, up by 30.60 points or 9.02% from its previous closing of Rs. 339.40 on the BSE.
The scrip opened at Rs. 338.65 and has touched a high and low of Rs. 371.70 and Rs. 336.00 respectively. So far 457304 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 519.95 on 19-Jan-2024 and a 52 week low of Rs. 270.00 on 28-Oct-2024.
Last one week high and low of the scrip stood at Rs. 374.55 and Rs. 270.00 respectively. The current market cap of the company is Rs. 28362.33 crore.
The promoters holding in the company stood at 61.87%, while Institutions and Non-Institutions held 17.36% and 20.77% respectively.
Poonawalla Fincorp and TIH at IIT Bombay have signed a Memorandum of Understanding (MoU) to collaborate and drive cutting-edge innovations in the organization. The initial areas of application will be AI-driven risk management in credit processes and transformation in HR processes. The company aims to further leverage the partnership to drive various transformation initiatives across the functions in the organization.
The MoU reflects the commitment to foster collaborative transformation and productivity enhancements using AI. With the intent of becoming a future-ready organization, the partnership marks a significant step forward in the field of AI for the Company.
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).
