Sundaram Finance rises as its arm to expand presence in tier-III towns in western Tamil Nadu
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Sundaram Finance is currently trading at Rs. 4142.55, up by 48.90 points or 1.19% from its previous closing of Rs. 4093.65 on the BSE.
The scrip opened at Rs. 4124.95 and has touched a high and low of Rs. 4189.00 and Rs. 4034.20 respectively. So far 401 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 5528.85 on 27-Sep-2024 and a 52 week low of Rs. 3104.45 on 24-Nov-2023.
Last one week high and low of the scrip stood at Rs. 4350.00 and Rs. 4034.20 respectively. The current market cap of the company is Rs. 45482.03 crore.
The promoters holding in the company stood at 37.23%, while Institutions and Non-Institutions held 26.44% and 36.33% respectively.
Sundaram Finance’s wholly-owned subsidiary -- Sundaram Home Finance is planning to expand its presence in tier-III towns in western Tamil Nadu under its 'Emerging Business' (EB) segment, citing strong growth potential. The company currently operates over 15 branches in the region, including six under the vertical. As part of its expansion strategy, the company aims to disburse over Rs 500 crore in the next 12-18 months, with Rs 50 crore targeted specifically at the EB vertical.
Sundaram Finance has a diversified presence in Mutual Funds, Housing Finance, General Insurance, IT, Business Process Outsourcing and Retail Distribution of a wide array of financial services and products.
