MMFSL advances after bulk deal

Mahindra & Mahindra Financial Services gained 3.74% to Rs 244 at 13:48 IST on BSE after 0.32% equity changed hands in a bulk deal on BSE today, 1 August 2014.

A bulk deal of 18.60 lakh shares was executed on the Mahindra & Mahindra Financial Services (MMFSL) counter at Rs 240.25 per share at 11:25 IST on BSE today, 1 August 2014.

Meanwhile, the S&P BSE Sensex was down 83.11 points or 0.32% at 25,811.86

Bulk deal boosted volume on the counter. On BSE, so far 21.94 lakh shares were traded in the counter as against average daily volume of 2.18 lakh shares in the past one quarter.

The stock hit a high of Rs 246.90 and low of Rs 232.35 so far during the day. The stock had hit a record high of Rs 355.90 on 23 December 2013. The stock had hit a 52-week low of Rs 212.60 on 23 August 2013.

The stock had underperformed the market over the past one month till 31 July 2014, falling 16.52% compared with 1.89% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 4.12% as against Sensex's 15.51% rise.

The large-cap company has equity capital of Rs 113.75 crore. Face value per share is Rs 2.

MMFSL's consolidated net profit fell 16.5% to Rs 169.51 crore on 18.3% growth in total income to Rs 1384.37 crore in Q1 June 2014 over Q1 June 2013.

MMFSL, part of the Mahindra Group, is one of India's leading non-banking finance companies with a pan India presence. Focused on the rural and semi-urban sector, it provides finance for vehicles and tractors and has the largest network of branches amongst NBFC's operating in these areas.

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